New York
T:
+1 212 848 4184
F:
+1 646 848 4184
Add to Outlook
|
Danforth
Newcomb
Of Counsel
Education
Columbia University School of Law, J.D., 1968
University of Vermont, B.A., 1965
Practice
Danforth Newcomb’s practice includes a wide variety of civil, administrative, and complex criminal cases. He also does internal investigations and compliance programs in Europe, Latin America, the Middle East, Asia, Africa and former Eastern Bloc countries. The 2011 edition of Chambers USA named him as the Senior Statesman among the Leading FCPA Experts and Main Justice, a leading blog on criminal defense matters, in 2011 named him one of the “Best FCPA Lawyers Outside the Beltway.” He also represents financial institutions in disputes and regulatory proceedings and advises clients on anti-money laundering, economic sanctions and sovereign immunity matters.
Experience
Anti-corruption
Mr. Newcomb founded the anti-corruption practice at Shearman & Sterling. He is approved by the United Nations as an expert on ethics and compliance and served as a Department of Justice and SEC sanctioned compliance monitor. His recent FCPA engagements include: Nokia in a multi-jurisdictional anti-corruption review arising out of the Siemens AG matter, AB Volvo in DOJ and SEC proceedings arising out of the Oil For Food Program, ABB in SEC and DOJ cases, and various parties in SEC/DOJ investigations related to Norsk Hydro/Statoil, Titan Corporation, Daimler Chrysler AG, the Bonny Island Nigeria matter, Faro Technologies, Inc. and Oil States International, Inc. His foreign anti-corruption experience began in 1976 with an SEC mandated investigation that was a precursor for the FCPA. He also obtained an early (81-1) FCPA Review Procedure Release from the DOJ that is the foundation for present day third party due diligence practices. Mr. Newcomb is a member of the Board of Advisers to the Foreign Corrupt Practices Act Reporter and founding editor of the FCPA Digest.
Other anti-corruption experience:
- U.S. multinational company in connection with a grand jury investigation in San Francisco and an administrative investigation in Washington, D.C. concerning that company’s procurement practices on a U.S. A.I.D. project in Egypt
- Thai telecom company, which was preparing to offer securities in the European and North American capital markets, regarding undocumented payments that were made concurrently with the company’s receipt of government grants of concessions. The company needed to better support these payments as it transitioned from Thai accounting to U.S. GAAP. The investigation involved parties in Japan and Hong Kong
- U.S.-European joint venture regarding the circumstances under which a major infrastructure concession was granted in Costa Rica after the president of Costa Rica had his two predecessors arrested for corruption in connection with granting infrastructure concessions during their administrations
- Multinational financial institution responding to U.S. criminal authorities after a whistleblower complained about corrupt payments made by the institution’s Brazilian subsidiary
- Consortium of U.S. financial institutions; investigated the circumstances under which the consortium’s Argentine participant forgave certain loans to a senior Argentine public official
- Power plant developer responding to federal criminal inquiries alleging FCPA violations in connection with a project in China
- Consortium of EPC contractors in connection with a project in the Philippines
- U.S. company involving corruption in procurement activities in Saudi Arabia
- Multinational company in a federal grand jury investigation of FCPA violations relating to a major infrastructure project in South Korea
- Telecommunications company in connection with the granting of telecommunications concessions in Russia
- Five participants in the Oil-For-Food program in an action by Iraq for alleged damages
Other
- European bank in a multi-agency investigation of LIBOR setting practices
- Asian bank in an investigation of “stripping” to avoid U.S. economic sanctions
- Non-U.S. company with large operations in Iran
- New York branch of an Asian bank in an action to enforce a New York judgment at a branch of the bank in the Asian country
- Multi-jurisdiction industrial manufacturer on its global sanctions policy
- Canadian bank in dismissal of lender liability claims relating to a resort and casino in the Caribbean
- Swiss bank in dismissal of civil claims for violation of the Commodities Exchange Act and RICO in connection with Foreign Exchange options
- South American investment bank against claims of securities fraud
- Bank Advisory Committee for Brazil in litigation challenging Brazil’s “Brady Bond” restructuring of its external debt
- U.S. financial institution in recovery of the full amount it was owed by Zaire
- European bank in avoiding a U.S. criminal action and regulatory proceedings where its employee plead guilty
- European bank in connection with false statements made to the Federal Reserve Bank
- U.S. company in successfully resolving civil and criminal investigations of procurement fraud
- U.S. financial institution in obtaining and collecting a judgment against the Democratic Republic of the Congo
- U.S. private equity firm in obtaining and enforcing judgments against the Democratic Republic of the Congo and the Republic of the Congo
- Bank advisory committees in connection with the restructuring of the sovereign debts of Mexico, Argentina, and Brazil; advised on attachment and judgment enforcement matters
- Canadian financial institution in connection with the most recent devaluation of the Argentine currency
- Ministry of finance and central bank of a Central American country in connection with efforts to enforce U.S. judgments against the sovereign assets of that country
- European financial institution pursuant to civil and criminal remedies against the promoter and adviser of an investment fund investing in South Korean public companies
- European financial institution on asset tracing issues in Switzerland, Liechtenstein, and Thailand in connection with a ten-year effort to apprehend and extradite one of its former customers on charges of murder-for-hire
- Various non-U.S. financial institutions in connection with more than 50 extra-territorial subpoenas served on the U.S. locations of such institutions for customer records located in jurisdictions with strong bank confidentiality laws
- Major Uruguayan financial institution in connection with U.S. attempts to forfeit a customer account at the Montevideo head-office of the institution
- Swiss private bank in resisting efforts by U.S. prosecutors to forfeit that institution’s U.S. correspondent bank account under the U.S.A. Patriot Act as substitute funds for a Swiss customer account in Zurich
- Citibank N.A. in connection with various proceedings arising out of its relationship with Raul Salinas, the brother of the president of Mexico. These proceedings involved congressional hearings and led to significant provisions in the U.S.A. Patriot Act
- U.S. financial institution in connection with money laundering investigation and forfeiture matters relating to Manuel Noriega
- Republic National Bank in connection with various investigations and forfeiture actions relating to its private banking and currency business in Russia, Luxembourg, Switzerland, and certain Latin American countries
Select Reported Cases:
- Reserve Int’l Liquidity Fund, Ltd. v. Caxton Int’l Limited, 721 F. Supp. 2d 253 (S.D.N.Y. 2010), Securing the denial of a petition for an injunction under the All Writs Act against Société Générale
- Sullivan v. Blank, et al., dismissal of RICO, fraudulent transfer and unjust enrichment claims arising out of an alleged murder-for-hire scheme, 2005 Lexis 17844 (2005)
- FG Hemisphere v. Congo, enforcement of a judgment for $151 million, 2005 Lexis 3523 (2005)
- EAB v. Bank of Nova Scotia, dismissal of a funds transfer claim pursuant to UCC Art, 4A, 12 AD3d 189, 784 N.Y.S. 2, 99 (2004)
- Williams v. Hilton Group, dismissal of fraud claims, 264 F.Supp. 2d 324, aff’d 93 Fed. Appx 384 (2004)
- Leonard v. Garantia, fraud claims dismissed, 213 F.3d 626 (2000)
Selected Professional & Business Activities
- American Bar Association, Litigation and Corporation, Banking and Business Law Sections
- Federal Bar Council
- Panel of Mediators, United States District Court
- Founding member of the Board of Editors of the Money Laundering Law Report
- Board of Advisers of Foreign Corrupt Practices Act Reporter
- Lectures frequently on proceedings affecting financial institutions and matters on international trade
Publications
- Publications include “Digest of FCPA Cases,” The United States chapter in Neate and Godfrey: Bank Confidentiality, Fifth Edition, “Policing Trans-Border Fraud,” “The View from the Bridge,” “U.S. Forfeiture of International Bank Deposits,” and “Waiving Bank Secrecy in the U.S.”
Courts
All courts in the State of New York and the District of Columbia
Various United States District Courts and Courts of Appeals
United States Court of Claims
United States Tax Court
United States Supreme Court
|