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The trial of two men associated with an online cannabis
marketplace began last week in the Southern District of New
York. Prosecutors seek to prove that Hamid Akhavan and Ruben
Weigand, two businessmen who worked with the online platform from
2016 to 2019, conspired to commit bank fraud by disguising credit
and debit card transactions for cannabis purchases as transactions
for non-cannabis purchases. While selling cannabis remains
illegal under federal law, the case demonstrates how cannabis
businesses face white collar enforcement risks unrelated to
drug-trafficking charges.
What changes when an investigator leaves the public sector and joins the private sector? For Brian Cairl, senior managing director and director of investigations of the Americas.
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The Delaware Supreme Court unanimously affirmed a trial court
judgment requiring a directors and officers (D&O) excess
insurer to pay a claim for losses predicated on fraudulent conduct
of the director and CEO of a corporation, holding that such losses
are insurable under Delaware law and coverage is not barred by
Delaware public policy.
The Court also held that Delaware law applied to the insurance
policy in the case, stating that a choice of law analysis for a
D&O policy will most often reveal that a corporation s
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Soon after Congress passed the Coronavirus Aid, Relief, and
Economic Security Act ( CARES Act ) in March 2020, the
Criminal Division of the U.S. Department of Justice (DOJ) moved
quickly to address potential COVID-19 related fraud. One area of
early focus was the Paycheck Protection Program (PPP), a program
under the CARES Act that provides loans to small businesses to help
pay employees. The Fraud Section set up a team devoted to PPP fraud
and, within two months of the passage of the CARES Act, had charged