Faculty Notes

Prof. Ronald Colombo Quoted in Law360 Story on DOJ’s $5.6B Forex Pact With Banks

Ronald J. Colombo, Professor of Law

DOJ Shows Teeth With $5.6B Forex Pact, But Not Sharp Ones
By Ed Beeson
Law360
May 20, 2015

Excerpt:

The Justice Department, in the plea agreements it struck, said the banks intend to petition the Labor Department to retain their QPAM status, and that the department will support a motion to adjourn any sentencing hearing until the Labor Department has ruled on the request.

By carving out such exemptions, “it really defangs the criminal charges,” said Ronald Colombo a law professor at Hofstra University.

“The only persons being punished right now are the innocent shareholders of the banks,” he added.

Read the full article.

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