THE BASICS ON FINCEN AND THE BENEFICIAL OWNERSHIP RULE

Legal fiction has become passé. At least in the eyes of the Treasury Department. The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has targeted legal entities with ties to money laundering schemes by requiring legal entities opening new accounts at financial institutions to disclose and verify identification of the entity’s beneficial owner.  Beneficial owner, in this context, means an Read More

TO STOP OP-ED ATTACKS ON PROSECUTORS, CALL FOR BALANCE

The New York Times is one of many publications that regularly lambasts prosecutors for misconduct.  In its latest Op-Ed, the Times suggests federal oversight for state prosecutors’ offices that “repeatedly ignore defendants’ legal and constitutional rights.”  Let’s leave aside the logistical barriers to this solution (lack of resources, identification of “bad” offices) and focus on the unbalanced approach to the Read More