The U.S. Justice Department will face an old challenge in prosecuting employees of financial institutions for crimes tied to compliance failures: proving intent, according to Andrew Hruska, a former senior counsel to United States Deputy Attorney General Larry Thompson. While regulatory fines against individuals appear to be up, criminal prosecutions have focused more on financial institutions than on individuals in cases when the violating financial transactions prove to be complex, said Hruska, who helped revise the department's guidelines on bringing criminal cases against companies. Hruska, now a lawyer in the New York office of Atlanta, GA-based King & Spalding, spoke...
print