White Collar Defense Team Publishes Law360 Expert Analysis on FCPA Charge Levied Against “Crypto King” Sam Bankman-Fried
Fort Lauderdale Partner Sean P. Shecter, Atlanta/Savannah Partner Steven Lee, and Washington D.C./Baltimore Associate Joseph Doukmetzian recently published a Law360 Expert Analysis piece titled, "What SBF's FCPA Charge Means For Crypto Enforcement," which discusses the charge that federal prosecutors recently levied against former FTX CEO Sam Bankman-Fried pursuant to the Foreign Corrupt Practices Act (FCPA).
Ft. Lauderdale, Fla./Atlanta, Ga./Washington, D.C. (May 1, 2023) – Fort Lauderdale Partner Sean P. Shecter, Atlanta/Savannah Partner Steven Lee, and Washington D.C./Baltimore Associate Joseph Doukmetzian recently published a Law360 Expert Analysis piece titled, "What SBF's FCPA Charge Means For Crypto Enforcement," which discusses the charge that federal prosecutors recently levied against former FTX CEO Sam Bankman-Fried pursuant to the Foreign Corrupt Practices Act (FCPA). The article also describes the potential impact that the new charge will have on the case against Bankman-Fried and on the government’s desire to increase enforcement actions within the cryptocurrency space.
The authors open the article by observing that although the U.S. Department of Justice (DOJ) has prosecuted crypto matters before, the matter involving Bankman-Fried “appears to be the first crypto-related FCPA case brought by federal prosecutors.” They go on to provide a history of FCPA enforcement actions over the last few years, as well as a brief summary of the charges pending against Bankman-Fried.
Next, Messrs. Shecter, Lee, and Doukmetzian detail the elements necessary to establish an FCPA violation and discuss these elements in the context of the Bankman-Fried case. They also compare the Bankman-Fried matter to other high-profile FCPA cases. The authors close the article by observing that “crypto is becoming increasingly regulated and will continue to be a big target for enforcement actions. By including these charges against Bankman-Fried, the DOJ is showing the public that the FCPA is yet another tool in its arsenal to combat and punish unlawful, criminal activity involving cryptocurrency.”
Mr. Shecter serves as co-chair of Lewis Brisbois’ Government Investigations & White Collar Defense Practice and chair of its Supply Chain Due Diligence Practice. A former federal prosecutor, he is also a member of the firm's Complex Business & Commercial Litigation Practice and its Sustainability and Environmental, Social, and Governance (ESG) Practice.
Mr. Lee serves as vice chair of Lewis Brisbois’ Government Investigations & White Collar Defense Practice. A former federal prosecutor, he focuses his practice on government and internal corporate investigations and complex litigation matters.
Mr. Doukmetzian is a member of Lewis Brisbois’ General Liability Practice. His practice focuses on insurance defense litigation, including in the areas of construction, professional malpractice, breach of contract, premises liability, and personal injury.
Read the full article as a PDF here or on Law360 here (subscription may be required).
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