Jenner & Block

“No Intent to Harm: Expanding Criminal Liability for Financial Crimes,” Bloomberg BNA

In this article, Jenner & Block Partner Matthew D. Cipolla and Associate Lorenzo Di Silvio examine how recent developments in the US Supreme Court and the US Court of Appeals for the Second Circuit have strengthened the government’s ability to prosecute financial crimes. Criminal liability has been expanded to include financial crimes based on the object of fraud and not the defendant’s intent, target or whether or not the affected bank was the offender. If this trend continues, the Supreme Court may remove any requirement to prove that a bank was intended to be defrauded in a bank fraud prosecution, giving the government more power in the battle against financial crime.