When Judge Denny Chin sentenced Bernie Madoff, perhaps the most notorious white-collar criminal, Judge Chin imposed a sentence of 150 years, the maximum possible under the law. Madoff was 71 years old. His Ponzi scheme resulted in the loss of $64.8 billion. While Judge Chin may have imposed a lesser sentence without altering the fact that Madoff will die while incarcerated, Judge Chin specifically cited...
The sentencing of criminal defendants continues to create controversy. There are so many categories of crime and ranges of punishment – the issue always calls for difficult judgments and inevitably results in vigorous debate. In this three-part series, I plan to examine some of the issues surrounding sentencing of white-collar defendants and deterrence. It is often presumed that stiff sentencing of white-collar defendants is an...
The Justice Department’s reexamination of corporate incentives to disclose violations appears to be in reaction to the steady escalation of cooperation requirements. In response to these extra burdens, DOJ could be concerned that FCPA voluntary disclosures will dwindle. For years, voluntary disclosures have fueled DOJ’s FCPA enforcement program. In the context of a voluntary disclosure program, I have consistently written that DOJ has failed to...
