NEW YORK, May 24, 2016 /PRNewswire/ -- Marc L. Mukasey, global co-chair of the White Collar Defense & Special Investigations Practice at international law firm Greenberg Traurig, LLP, secured a favorable ruling for long-time client Rebecca Mairone when the United States Court of Appeals for the Second Circuit threw out a jury's 2014 finding of fraud in connection with the so-called "Hustle" mortgage program, which was run at the former Countrywide Financial as it transitioned from originating subprime loans to prime loans that were later sold to Fannie Mae and Freddie Mac. Following the verdict, U.S. District Judge Jed S. Rakoff imposed a $1.27 billion penalty on Bank of America and ordered former Countrywide executive Rebecca Mairone to pay a $1 million penalty. But according to today's unanimous Court of Appeals ruling, "[t]he trial evidence fail[ed] to demonstrate the contemporaneous fraudulent intent necessary to prove a scheme to defraud through contractual promises."
The verdict exonerated both Bank of America, the successor in interest to Countrywide, and Mairone. Through Mukasey, Mairone stated, "I want to thank my lead lawyer, Marc Mukasey, my appellate lawyer, Josh Rosenkrantz, Bank of America, Williams and Connolly and my whole legal team who never stopped fighting to exonerate me. I never lost my faith in our judicial system to do the right thing and I'm looking forward to a bright future in business."
A former supervisory federal prosecutor and Securities Exchange Commission enforcement attorney, Mukasey defends corporations and executives facing allegations of securities fraud, FCPA violations, FIRREA, antitrust violations, environmental crimes, money laundering, bribery, mail/wire fraud, tax offenses, and other business crimes. A renowned trial lawyer, Mukasey has tried an array of criminal cases and has also convinced prosecutors, behind the scenes, to abandon investigations before charges were filed. Mukasey is Chambers & Partners rated and was named by Law360 as an MVP of the Year in the White Collar category in 2013 and 2014, and a 2015 Trailblazer in the area of White Collar Crime by The National Law Journal.
About Greenberg Traurig's White Collar Criminal Defense Practice
Greenberg Traurig's White Collar Criminal Defense Practice has wide-ranging experience protecting companies and individuals through coordinated planning and defense. Greenberg Traurig is on the forefront of client service in this area, and is one of few firms with more than 90 former federal and state prosecutors in its litigation group, and where the majority of litigation shareholders and counsel have first-chair trial experience. The team's defense capabilities includes vast experience in structuring internal investigations, developing guidelines and implementing compliance programs and addressing issues of voluntary disclosure, as well as extensive representations involving alleged securities fraud, FCPA violations, health care/pharmaceutical fraud, environmental crimes, money laundering, financial services fraud, public corruption/campaign finance, tax corruption, defense contracting, and bankruptcy fraud.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 1900 attorneys serving clients from 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. The firm is No 1. on the 2015 Law360 Most Charitable Firms list, third largest in the U.S. on the 2015 Law360 400, Top 20 on the 2015 Am Law Global 100, and among the 2015 BTI Brand Elite. More information at: http://www.gtlaw.com/.
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SOURCE Greenberg Traurig