A Manhattan federal judge hit cryptocurrency finance expert and former FTX executive Ryan Salame with a 7½-year sentence Tuesday for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder, Sam Bankman-Fried.
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FTX Exec Who Acted As Bankman-Fried 'Tool' Gets 7½ Years

By Pete Brush

A Manhattan federal judge hit cryptocurrency finance expert and former FTX executive Ryan Salame with a 7½-year sentence Tuesday for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder, Sam Bankman-Fried.

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Snubbed ConvergeOne Creditors Appeal Ch. 11 Plan

By Alex Wittenberg

A group of ConvergeOne lenders that claim the information technology company's reorganization plan unfairly advantages rival creditors has appealed a Texas bankruptcy judge's recent ruling approving the Chapter 11 deal, asking a district court to stay the decision while it challenges what it called an "exclusive" rights offering underlying the plan.

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Ex-NRA CFO Settles NY AG Suit Before Phase-Two Trial

By Elliot Weld

The National Rifle Association's former chief financial officer has reached a settlement with the New York attorney general's office ahead of the second phase of a trial over claims the group and its executives misused donor money, among other alleged misconduct.

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POLICY & REGULATION

OCC's Hsu Says More Banks May Need Crisis Playbook Rules

By Jon Hill

The Office of the Comptroller of the Currency's acting chief Michael Hsu called for potentially subjecting more banks to recovery planning standards that currently kick in at the $250 billion asset size threshold, floating it as another possible regulatory response to last year's regional bank failures.

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CHAPTER 11

Beasley Allen, J&J Trade Barbs Over DQ Bid In Talc Litigation

By Jake Maher

Johnson & Johnson and the Beasley Allen Law Firm have accused each other by turns of "gamesmanship" and "unscrupulous conduct" in New Jersey courts in a fight over whether the firm should be disqualified from talcum powder litigation for allegedly collaborating in secret with a former J&J outside counsel.

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Legal Lenders Can't Avoid Hurricane Ads Suit, Plaintiff Argues

By Lynn LaRowe

Funding companies that lent $20 million to a Texas law firm accused of using it to deceptively solicit hurricane victims can't escape liability by claiming they didn't know how attorneys were using the money or "simply because they don't have offices in the state," according to a Louisiana woman at the forefront of a putative class action.

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$10M Policy Excludes Tobacco Group's Suit, Court Told

By Travis Bland

An insurer told a North Carolina federal court Tuesday that it doesn't owe coverage to a tobacco growers' cooperative saddled with paying out a $100 million settlement for farmers, arguing that its $10 million policy excludes contract claims.

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RESTRUCTURING

Hawaii Warns Telecom Co.'s Loan Woes Will Affect Consumers

By Nadia Dreid

The Department of Hawaiian Home Lands is warning customers who live in the home lands and use Sandwich Isles Communications for phone and internet service that they need to switch companies immediately or risk losing service, but Sandwich Isles is blaming the state agency for the issue.

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EXPERT ANALYSIS

How Attys Can Avoid Pitfalls When Withdrawing From A Case

The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

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LEGAL INDUSTRY

Podcast

Approach The Bench: Judge Humetewa Talks Tribal Relations

Before she joined the federal bench in Arizona, Judge Diane Humetewa worked as a jurist on a relatively young court, where she regularly set new legal precedent.

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American To Cut Attys Who Blamed Child Filmed In Bathroom

By Lynn LaRowe

Wilson Elser Moskowitz Edelman & Dicker LLP attorneys are on the brink of being removed as counsel for American Airlines in a Texas state lawsuit over an ex-flight attendant's secret bathroom recording of a 9-year-old girl.

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GE General Counsel Mike Holston Heading To Paul Weiss

By Sue Reisinger

The general counsel who navigated General Electric Co. through its recent split into three companies is becoming a partner at Paul Weiss Rifkind Wharton & Garrison LLP on Oct. 1, where he looks forward to taking on corporate crises and maybe even a pro bono death penalty case.

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Profile

The Patent Attorney Who Shook Up Professional Poker

By Alex Lawson

Moving from private practice to corporate counsel is a common path for lawyers of all stripes. Considerably less common is the shift from private practitioner to in-house counsel to poker world champion, but that's the exact trick Greg Raymer pulled off 20 years ago this week. Here, Law360 talks to Raymer about his legal career, the big poker win, and what life has been like since.

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Trump Atty Calls Cohen 'MVP Of Liars' As NY Trial Closes

By Rachel Scharf, Frank G. Runyeon and Stewart Bishop

Donald Trump's counsel repeatedly assailed the credibility of star witness Michael Cohen Tuesday in a final pitch to the New York jury that will decide whether to convict the former president of falsifying business records, calling Cohen "an MVP of liars" and "the human embodiment of reasonable doubt."

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Coverage Recap: Day 17 Of Trump's NY Hush Money Trial

By Stewart Bishop

Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day 17.

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Trump's Florida Prosecutors Scolded For Gag Order Filing

By Elliot Weld

The Florida federal judge overseeing Donald Trump's classified documents case on Tuesday temporarily rejected the government's request for a limited gag order and admonished prosecutors for what she said was a lack of "substance and professional courtesy" in their conferral with defense attorneys before filing the motion.

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Serial Numbers Tie Gold Bars To Menendez, Jury Hears

By Carla Baranauckas

The executive assistant of a New Jersey real estate developer on trial alongside U.S. Sen. Robert Menendez linked her boss to some of the gold bars found in the congressman's New Jersey home, confirming Tuesday that the serial numbers of her employer's stash of bars matched the ones stamped on the flashy evidence.

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Gorsuch Unhappy Court Won't Rethink Jury Size Precedent

By Rose Krebs

In a strongly worded dissent Tuesday, Justice Neil Gorsuch said the U.S. Supreme Court needs to rethink precedent that "made the unthinkable a reality" by permitting juries of fewer than 12 people to decide cases involving serious criminal offenses.

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Head Of Judicial 'Progressive Powerhouse' To Step Down

By Courtney Bublé

Russ Feingold will step down next year as president of the American Constitution Society, which is a liberal counterpart to the Federalist Society.

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Absent Atty Irks Judge In Girardi-Linked Bar Corruption Case

By Craig Clough

A California judge on Tuesday chastised a lawyer representing former clients of Tom Girardi accusing the state bar of "rampant corruption," telling the attorney over the phone that he is "nonplussed" as to why he attempted to skip the hearing on the bar's motion to toss the case.

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Tech Co. Says Houston Court Set Trial Despite Atty Vacations

By Catherine Marfin

A Kansas-based technology company has asked a Texas appellate court to push back a June trial date in Houston, writing that a trial court judge scheduled the proceeding despite being notified of vacation conflicts by multiple attorneys.

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Catching Up With Delaware's Chancery Court

By Leslie A. Pappas

Delaware Court of Chancery watchers shifted their focus last week from the courtroom to Dover's legislative hall, as proposed amendments to Delaware's corporate code were finally introduced to state lawmakers. Hearings, decisions and reversals involved Kraft-Heinz, AMC Entertainment and the merger of cryptocurrency companies BitGo and Galaxy. In case you missed it, here's the latest from Delaware's Chancery Court.  

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LAW FIRMS IN TODAY'S NEWS

Abbott Cooper PLLC

Beasley Allen

Block & Leviton

Carter Arnett

Continental PLLC

Couhig Partners

Dykema Gossett

Faegre Drinker

Fox Rothschild

Gibbons PC

Girardi & Keese

Gray Cary

Gray Reed

Gutnicki LLP

Jones Day

Kelly Hart

Lewis & Llewellyn

Loyens & Loeff

Mayer Brown

McClenny Moseley

McDowell Hetherington

Morgan Lewis

NechelesLaw

O'Melveny & Myers

Orbach Huff

Orsinger Nelson

Osborne Law Firm

Paul Hastings

Paul Weiss

Proskauer Rose

Reynolds Frizzell

Ron Austin Law

Sanders Roberts

Spencer Fane

Susman Godfrey

White & Case

WilmerHale

Wilson Elser

Winston & Strawn

Young Moore

de Castro PC

COMPANIES IN TODAY'S NEWS

AMC Entertainment Holdings Inc.

American Airlines Group Inc.

American Constitution Society

Apple Inc.

Archaea Energy Inc.

Bank of America Corp.

BitGo Inc.

Brookfield Infrastructure Partners LP

CVC Capital Partners

ConvergeOne Inc.

Delaware State Bar Association

ESPN Inc.

Federalist Society

GE Vernova Inc.

Galaxy Digital Holdings Ltd.

General Electric Co.

Getty Images Holdings Inc.

Hawaiian Telcom Holdco Inc.

Johnson & Johnson

Koch Industries Inc.

Merck & Co. Inc.

National Rifle Association of America

Pfizer Inc.

SVB Financial Group

Spotify Technology SA

State Bar of California

Therapeutics Inc.

U.S. Tobacco Cooperative Inc.

University of Zurich

Walt Disney Parks & Resorts Worldwide Inc.

Xponential Fitness LLC.

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Supreme Court

Delaware Court of Chancery

Federal Bureau of Investigation

Federal Communications Commission

Federal Reserve System

Florida Attorney General's Office

Hopi Tribe

Los Angeles Superior Court

Manhattan District Attorney's Office

New York Attorney General's Office

Office of Tribal Justice

Office of the Comptroller of the Currency

U.S. Attorney's Office

U.S. Attorney's Office for the District of Arizona

U.S. Attorney's Office for the Eastern District of Pennsylvania

U.S. Attorney's Office for the Southern District of New York

U.S. Department of Agriculture

U.S. Department of Justice

U.S. District Court for the District of New Jersey

U.S. District Court for the Eastern District of North Carolina

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. Patent and Trademark Office

U.S. Sentencing Commission

U.S. Supreme Court