Free Speech, Due Process and Trial by Jury
A Sherman jury dealt federal prosecutors a rare acquittal Tuesday in the trial of a Dallas-area doctor accused in an alleged fraudulent scheme to bill insurance companies for medical services provided to injured university student athletes. Jurors deliberated about four hours before finding Dr. Kyle Carter not guilty of a single count of conspiracy to commit wire fraud.
The Texas Capture or Use of Biometric Identifier Act has been around since 2009, but it has been making headlines recently due to a $1.4 billion settlement between Meta Platforms and the Texas attorney general. Companies concerned about potential liability under CUBI should undertake a comprehensive review of what data they collect to ensure that they are treating biometric identifiers properly.
The U.S. Attorney’s Office for the Eastern District of Texas has accused Dr. Kyle Carter of conspiring with a third-party billing company to collect thousands of dollars for work treating student-athletes he never saw and who were actually treated by university athletic trainers. Carter’s lawyers from Vedder Price told jurors the doctor was merely a supervising physician and didn’t have insight into the company's billing.
Led by lawyers in its Fort Worth office, the U.S. Securities and Exchange Commission brought charges Monday against the owners, employees and promoters of a $650 million crypto asset company that the federal agency claims was actually a multi-level marketing scheme that defrauded more than 200,000 investors, including many in Texas.
In May, the Securities and Exchange Commission and the Financial Crimes Enforcement Network initiated rulemaking to enhance anti-money laundering compliance for certain SEC-Registered Investment Advisers and Exempt Reporting Advisers. The proposed rule was expected, following FinCEN's February 2024 related notice that would add certain RIAs and ERAs as financial institutions subject to the Bank Secrecy Act. Taken in aggregate, these changes represent a new and more formalized regulatory wrapper for small funds, making compliance more prescriptive and resource-intensive. Recent decisions at the Fifth Circuit and the U.S. Supreme Court complicate matters further.
The U.S. Securities and Exchange Commission is overstepping its authority and bringing unfair enforcement actions against the cryptocurrency industry, several interested parties have argued in amicus briefs filed in a lawsuit asking Judge Reed C. O'Connor to rule that digital assets are not securities. LEJILEX, a Texas company that intends to launch a digital asset trading platform, filed suit against the SEC in February. Seven states also argue the SEC’s aggressive actions threaten to preempt dozens of state laws.
What will the post-Chevron era look like? The full and future impact of overturning Chevron is unclear, but it is safe to assume that innumerable businesses and industries will be impacted.
Armenian brothers Artyom Khachatryan and Gurgen Khachatryan faced accusations that their multimillion-dollar Beverly Hills mansion was purchased with bribes. Following a two-year investigation, the government announced it had closed the case and reached a settlement with the family to share proceeds from the sale of the luxury estate. The resolution is touted as a significant victory by the brothers’ Dallas lawyer, Ephraim “Fry” Wernick.
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