CFE Law Flashcards
In a bankruptcy proceeding, are creditors allowed to conduct their own investigations into the debtor’s financial affairs?
yes
Mail fraud statute is what type of law?
Substantive
A cross claim in an action between parties on?
the same side of the lawsuit
Rule 26 of the US Fed Civil Procedures does not require that this is disclosed regarding an expert witness
All crimes of dishonesty the expert has been convicted of.
What is a commonly available defense to tax fraud accusations?
Mental illness
CAN-SPAM Act is?
Attempts to reduce spam and prohibits several deceptive or fraudulent practices used in spam (deceptive subject lines/header info)
Following the wall street crash of 1929, Congress passed what?
The Securities and Exchange Act of 1934 (vs 1933 Act that regulated issuance of securities this covers subsequent trading through brokers).
The government cannot appeal an acquittal on its?
Merits (because of violation of 5th amendment rights regarding double jeopardy)
Fictitious Revenues in money laundering is?
When the money launderer records more income on a business’ books than the business actually generates and the fictitious revenue accounts for the illegal funds that are secretly inserted into the company.
Three stages of money laundering?
Placement, layering and integration
Placement in money laundering is?
Introduction of illegal profits into the financial system.
Layering in money laundering is?
Numerous financial transactions in complex patterns to prevent detection
Integration in money laundering is?
the money is integrated back into the economy in a way that make it appear to be part of a legitimate transaction.
Howery Test
There is an investment of money or other asset.
The investment is a common enterprise.
The investment was made with the expectation of making a profit.
The profits are to come solely from the effort of people rather than the investor.
TINA (Truth in Negotiations Act) requires what?
That Government contractors submit cost pricing or pricing data and certify that such information is current, accurate and complete before the award of any negotiated contract.
elements to prove perjury
the def made a false statement
the def made the false statement under oath
the false statement was material or relevant to the proceeding
the def made the statement with knowledge of its falsity.
The purpose of authentication requirements in common law systems is to?
Ensure that evidence (tangible) is what it purports to be and is genuine.
Myopic Vision in cross examination?
Method of questioning an expert witness where after the expert explains a lot of time on a specific subject matter, the attorney then focuses on an area where the expert has done little work.
The fiduciary duty of loyalty is?
Agent must act solely in the best interest of the employer/principal.
The fiduciary duty of care is?
Means that people in a fiduciary relationship must act with such care as an ordinarily prudent person would employ in similar positions.
A court appointment bankruptcy examiner has the power to?
Subpoena records and depose witnesses.
Federal Civil Procedure Rule 26 requires that testifying expert witness submit a written report containing the following:
- Complete statement of all expert opinions to be expressed and the basis of those opinions.
- The facts or data considered by the witness in forming the opinion.
- Any exhibits
- Witness qualifications
- All publications authored w/in the last 10 years.
- a list of other cases they have testified in over the last 4 years.
- the amount of compensation they are receiving.
Elements of commercial bribery typically include:
- The def gave or received a thing of value.
- The def acted with corrupt intent.
- The def’s scheme was designed to influence the recipients action in a business decision.
- The def acted without the victim’s knowledge or consent.
Substantive law is comprised of?
The basic laws of rights and duties.
