The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a groundbreaking enforcement action against Ripple Labs, Inc., a Northern Californian virtual currency company.
FinCEN announced on May 5th that Ripple Labs has been ordered to pay $700,000 in penalties and fines for violating FinCEN’s money transmitter regulations. The company has been charged with…
In an unprecedented move, the Utah Legislature has approved a measure to create the country’s first white-collar crime offender registry. Similar to convicted sex offenders registries, the measure calls for the publication of white-collar offenders’ names and aliases, a recent photograph, a physical description, and a list of their crimes.
Pointing to the trusting nature…
The Mandatory Victims Restitution Act of 1996 (“MVRA”) provides that a victim of a federal crime may be entitled to an order of restitution for certain losses suffered as a direct result of the commission of the crime for which the defendant was convicted. For example, a corporation may be entitled to restitution from an…
