Curriculum Guide · Courses
White Collar Crime and Securities Fraud
Professor Alan Lieberman
LL.M Course 2087 (cross-listed) | 2 credit hours
The Criminal Fraud Section of the Department of Justice and United States Attorneys in the field play an important and increasingly significant role in the enforcement of the anti-fraud provisions of the federal securities laws. This course will examine the largest securities and financial frauds of this century including Enron’s multi-faceted scam (and the consequential demise of accounting giant, Arthur Andersen); Worldcom (the nation’s largest corporate bankruptcy in its time); the schemes that led to the 2008 financial meltdown; Madoff’s $50 billion Ponzi scheme; and, the marquee criminal insider trading prosecutions recently in the headlines, among others. These colossal frauds destabilized our financial and banking systems, nearly crashed our economy, and undermined the confidence at home and throughout the world in the U.S. markets. Congress responded with the passage in 2002 of the Sarbanes-Oxley Act and in 2010 with the Dodd-Frank Wall Street Reform and Consumer Protection Act, both acts intended: to legislate accountability among entities and individuals who participate in our financial markets; to strengthen the reach and the arsenal of the principal regulators; and, to enhance monetary and prison penalties. Students will gain a practical understanding of the statutes and investigative tools used to combat corporate and Wall Street fraud, and the working relationship between the Department of Justice and the SEC Division of Enforcement. Case studies will serve to assess the successes, the failures and the future of securities regulation and enforcement through criminal prosecution.
Recommended: Prior enrollment in Securities Regulation.