U.S. Attorney General-designee Eric Holder may bolster resources dedicated to white collar crime cases, potentially reversing a decline seen in the Bush administration, say former prosecutors. President Obama nominated Holder, a former Deputy Attorney General under President Clinton, as the nation's top prosecutor on Dec. 1 and the nominee has yet to be confirmed. Since 2001, Holder has worked as a lawyer with Washington, D.C.-based law firm Covington & Burling, focusing on international advisory issues and internal corporate investigations. Holder's appointment would likely mean a rise in white collar criminal cases, including money laundering and fraud, according to Matthew Orwig,...
White collar crime prosecutions in August have dropped nearly 20 percent in the past five years and nearly three percent since 2007, according to government data compiled by a Syracuse University organization.
The U.S. Justice Department revised guidelines on prosecuting corporate wrongdoers Thursday, following pressure from lawmakers and businesses that said it had overzealously pushed companies to waive their attorney-client privileges.
The Justice Department issued a memo on March 7 outlining principles that prosecutors should use when assigning monitors for deferred prosecution agreements. The department came under fire for awarding a $25 million monitoring contract to a firm run by former Attorney General John Ashcroft.