Profile

Carl Loewenson Jr

Morrison & Foerster LLP

Contact Details

Morrison & Foerster LLP

Bio

 

Carl H.
Loewenson Jr.

Partner, New York, +1 (212) 468-8128, CLoewenson@mofo.com

 

Chip Loewenson is a member of the firm’s Securities Litigation, Enforcement, and White-Collar Defense Group. His practice focuses primarily on white-collar defense, including regulatory matters. His cases have included alleged insider trading, market manipulation, and other securities fraud issues, foreign corrupt practices, OFAC sanctions, government contract fraud, tax evasion, money laundering, price-fixing, false claims against the government, obstruction of justice, and attorney discipline. He has also handled significant civil litigation, including cases involving civil RICO, securities fraud, and trade secrets.

The United States District Court for the Southern District of New York has appointed Mr. Loewenson as receiver in three separate SEC enforcement actions, including SEC v. Credit Bancorp, Ltd., in which he led a 14-year effort resulting in the recovery of most of the $200 million that customers lost in a Ponzi scheme. The SEC also appointed him Independent Consultant in an enforcement action against the notorious securities boiler room, Stratton Oakmont, which was featured in “The Wolf of Wall Street.”

EDUCATION

Princeton University (B.A., 1979)

Yale Law School (J.D., 1983)

RANKINGS

Chambers USA 2013-2018

One client remarks: "He gets into the weeds, is extremely bright and has a good read on regulators.”

One client describes him as “the perfect combination of smart, diligent and practical,” while peers also highlight a range of strengths: “He's just great: great with individuals, a quick study, really calm under pressure - just top-notch.”

 Legal 500 US 2012-2017

“Very specific on technical details,” and “experienced in dealing with both government agencies and private parties.”

Prior to joining Morrison & Foerster in 1990, Mr. Loewenson served as an Assistant United States Attorney in the Southern District of New York for five years. For most of his time there, he served on the Securities and Commodities Fraud Task Force, where he prosecuted cases involving insider trading, stock manipulation, other securities fraud offenses, and tax evasion. As an Assistant U.S. Attorney, Mr. Loewenson was successful in 15 out of 16 verdicts in the cases he tried. In April 1991, he received the Director’s Award for Superior Performance from the Director of the Executive Office for United States Attorneys.

From 2001-2007, Mr. Loewenson was a member of the New York State Ethics Commission, a body charged with interpreting and enforcing New York State’s ethics in government statutes. From 2007-2013, he was chairman of the board of the Jacob Javits Convention Center in New York City. He is presently a member of the boards of Scenic Hudson, Inc., the Hudson Valley Shakespeare Festival, and the Exoneration Initiative. Mr. Loewenson also has a significant pro bono practice – he was integral in the high-profile release of Richard Rosario, who served 20 years in prison after being wrongfully convicted of murder. Mr. Loewenson successfully led a team of MoFo lawyers in a joint effort with the Exoneration Initiative in a decades-long legal battle that waged all the way to the U.S. Supreme Court.

He is a member of the American Bar Association and its Criminal Justice Section, the New York Council of Defense Lawyers and the Federal Bar Council.

Mr. Loewenson taught trial practice as an Adjunct Professor at New York University School of Law (1988 to 1992), at the Practising Law Institute in New York City (1991-1994), and at the Trial Advocacy Program of the Manhattan District Attorney’s Office (1989-1994).

At Yale Law School, Mr. Loewenson was a Note Editor of the Yale Law Journal, and at Princeton, he was the Editorial Chairman of the Daily Princetonian. Mr. Loewenson was a Fulbright Scholar and was a visiting scholar at the Stockholm International Peace Research Institute in Stockholm, Sweden.

After serving as a law clerk for the Honorable Frank M. Coffin of the U.S. Court of Appeals for the First Circuit, he served for a year on the National Legal Staff of the American Civil Liberties Union in New York City as the Karpatkin Fellow.

REPRESENTATIVE Matters

·         Global Financial Institution LIBOR Investigation
Represented investment bank head and several other high-level officials in worldwide LIBOR investigations and litigations
.

·         OFAC Sanctions
Represent a foreign bank in US DOJ investigation of alleged violations of US sanctions relating to Iran.

·         Foreign Corrupt Practices Act
Conducted internal investigations and defended government investigations for multiple Fortune 500 companies involving allegations of bribery of foreign government officials.

·         In re UnitedHealth Group, Inc. Securities Litigation
Represented the former chair of the compensation committee of the board of directors of UnitedHealth Group Inc. in government investigations and civil actions relating to allegations of stock options backdating, resulting in avoidance of action by the government and settlements favorable to our client in the civil actions.

·         Anti-Money Laundering Investigations
Represented senior AML executives at multiple large financial institutions in separate US government investigations of AML practices and controls.

·         Anti-Money Laundering Internal Investigation
Conducted an internal investigation on behalf of the Audit Committee of the Supervisory Board of ABN AMRO Bank N.V. regarding anti-money laundering policies and practices at the bank’s US dollar clearing unit.

·         Representing Former Mortgage Executive in DOJ and SEC Investigations
Representing the former Chief Financial Officer of one of the largest national mortgage originators, now bankrupt, in DOJ and SEC investigations and related shareholder litigation arising from the credit crisis.

·         Mortgage Investigations
Represent the former CEO of a large national bank in SEC and DOJ investigations relating to disclosures of losses in the bank’s mortgage portfolio.

·         Accounting Fraud
Represented an auditor at a Big Four accounting firm in an SEC investigation involving allegations of securities fraud and improper professional conduct arising out of the audit of a public company at which members of top management were criminally convicted of engaging in a massive, collusive accounting fraud. After a Wells process, the SEC staff terminated the investigation without commencing an action against the client.

·         Multi-Faceted Investigation of University Grants
Advised major U.S. research university in criminal and civil investigation of alleged false claims relating to federal research grants and contracts.

·         SEC v. Credit Bancorp
As court-appointed receiver from 2000 to 2014, successfully led an effort to identify and recover $200 million that had been lost in a Ponzi scheme.

·         Pro Bono Exoneration of Innocent Man
For 13 years, represented Richard Rosario, whose conviction was vacated in March 2016 after he had served 20 years for a crime he did not commit. Case was featured in a Dateline NBC series and on the NBC Nightly News.

Speaking Engagements

·         “Industry Wide and Cross-Border Investigations,” PLI’s White Collar Crime 2014: Prosecutors and Regulators Speak, September 23, 2014

·         “Managing a Bribery Investigation,” ACC 2013 Annual Meeting, October 28, 2013

·         “Cutting-Edge Issues in Global Anti-Corruption and Compliance,” Morrison & Foerster Seminar, Tokyo, April 18, 2013

·         “U.S. Government Regulation of Israeli High Tech Companies,” Morrison & Foerster and Kroll Advisory Solutions, Tel Aviv Stock Exchange, April 11, 2013

·         “Compliance Never Sleeps: Global Compliance Challenges Facing Funds,” 2013 Investment Company Institute, Palm Desert, CA, March 17 – 20, 2013

·         “Insider Trading: 2010 Update,” Directors Roundtable (New York Presentation), March 16, 2010

·         “Fallout from the Credit Crisis: Steps Every Company Should Take to Protect Itself and Its Officers and Directors,” Directors Roundtable (New York Presentation), November 20, 2008

·         “Doing Business in China and the FCPA: How to Protect Yourself and Your Company,” Directors Roundtable, October 14, 2008

·         “Internal Investigations 2008: Legal, Ethical & Strategic Issues,” PLI, June 10, 2008

·         “Stock Options Back-Dating Investigations: What Does it Mean for You and Your Company?” Morrison & Foerster Seminar (New York Presentation), June 22, 2006

·         “Stock Options Back-Dating Investigations: What Does it Mean for You and Your Company?” Morrison & Foerster Seminar (Northern Virginia Presentation), June 20, 2006

·         “The Legal & Strategic Guide to E-Discovery: Managing Your Legal Obligations From Document Creation to Discovery,” Marcus Evans Conference, March 27, 2006

Publications

·         Insider Trading, American Bar Association Books, April 2017 (co-editor).

·         “Insider Trading Cases and Convictions Upended after Second Circuit Issues Landmark Newman Decision,” Wall Street Lawyer, Vol. 19, Iss. 3, March 2015 (co-authors: Ruti Smithline, Kayvan B. Sadeghi, and James J. Beha II).

·         “2014 Insider Trading Annual Review,” Morrison & Foerster Legal Alert, February 12, 2014 (co-authors: Ruti Smithline, Kiersten Fletcher, Brian Neil Hoffman, Justin Hoogs and Kayvan Sadeghi).

·         “Cooperation Pays in Insider Trading Enforcement and Sentencing,” ACC QuickCounsel, May 2014 (co-authors: George Harris and Justin Hoogs).

·         “Cooperation Continues to Pay,” Westlaw Journal Securities Litigation and Regulation, Vol. 19 Iss. 21, February 5, 2014 (co-authors: Ruti Smithline, Kiersten Fletcher, Brian Neil Hoffman, Justin Hoogs and Kayvan Sadeghi).

·         “2013 Insider Trading Annual Review,” Morrison & Foerster Legal Alert, January 8, 2014 (co-authors: Ruti Smithline, Kiersten Fletcher, Brian Neil Hoffman, Justin Hoogs and Kayvan Sadeghi).

·         “Reliability of Confidential Witnesses in Securities Fraud Complaints,” New York Law Journal, September 30, 2013 (co-author James J. Beha II).

·         “2012 Insider Trading Annual Review,” Morrison & Foerster Legal Alert, January 17, 2013 (co-authors: Ruti Smithline, Kiersten Fletcher, Brian Neil Hoffman, Justin Hoogs and Kayvan Sadeghi).

·         “Recovering Lost Assets in Ponzi Schemes: An Immediate Look at the Legal, Governmental, and Economic Ramifications of the Bernard Madoff Scandal,” Aspatore Special Report, 2009.

·         “Court-Appointed Receivers for Ponzi Schemes,” New York Law Journal, December 30, 2008 (co-author Michael Gerard).

·         “Ethics of Internal Investigations,” Internal Investigations 2008: Legal, Ethical & Strategic Issues, Practicing Law Institution Corporate Law and Practice Course Handbook Series, Number B-1679, June 2008.

·         “New York’s New False Claims Act,” New York Law Journal, April 23, 2007 (co-author Ruti Smithline).

·         “Civil RICO and Proximate Cause,” New York Law Journal, April 25, 2006.

·         “Parallel Proceedings,” D&O Liability & Insurance 2004: Directors & Officers Under Fire, Practicing Law Institute Litigation Course Handbook, 2004, Chapter 9.

·         “Collaborating with Accountants,” National Law Journal, March 29, 2004 (co-author: David L. Stulb).

·         “Parallel Proceedings,” D&O Liability & Insurance in a Sarbanes-Oxley World, Practicing Law Institute Litigation Course Handbook, 2003, Chapter 12.

·         “Parallel Proceedings,” Insurance Coverage 2003: Claim Trends & Litigation, Practicing Law Institute Litigation Course Handbook, 2003, Chapter 14.

·         “Taking the Fifth During SEC Probe — Client’s Assertion of Rights Should be Irrelevant in Later Civil Enforcement,” New York Law Journal, July 16, 2001, pg. 9 (co-author: Daniel W. Levy).

·         “DOJ Guidelines Offer Strategy Clues,” National Law Journal, April 24, 2000, pg. B13 (co-author: Daniel W. Levy).

·         “The Decision to Indict,” Litigation, Vol. 24, No. 1, Fall 1997, pg. 13.

·         “High Court Reins in Prosecution,” National Law Journal, March 24, 1997, pg. B10 (co-author: Daniel W. Levy).

·         “Civil Settlements and Criminal Trials,” New York Law Journal, September 19, 1996, pg. 1.

·         “Second Circuit’s Broad View of Manipulation,” New York Law Journal, March 28, 1996, pg. 1 (co-author: Howard E. Heiss).

·         “Room for Flexibility in Sentencing Corporations,” National Law Journal, Jan. 16, 1995, pg. C3 (co-authors: Cedric C. Chao and James C. Harrison).

·         Federal Criminal Litigation: A Practical and Strategic Guide to Key Issues, American Bar Association, Section of Litigation, 1994 (co-editors: George C. Harris, Barbara A. Reeves).

·         “Trimming the Hearsay Exception for Statements against Interest,” New York Law Journal, July 28, 1994, pg. 1.

·         “An Overview of the Federal Sentencing Guidelines for Organizations,” Federal Criminal Litigation, 1993 (co-authors: Cedric C. Chao and James C. Harrison).

·         “Expert Testimony Concerning Eyewitness Identification,” New York Law Journal, October 19, 1993, pg. 1 (co-author: James J. Brosnahan).

·         “Criminal Trade Secrets Prosecutions,” Computer Law Reporter, April 1993, pp. 240 49 (co-author: Michael A. Jacobs).

·         “Banks as Innocent Owners in Forfeiture Cases,” New York Law Journal, March 17, 1993, pg. 1 (co-author: Kathleen Fallon).

·         “Congress Toughens Criminal Copyright Law,” New York Law Journal, November 13, 1992,

·         pg. 1 (co-author: Marta E. Nelson).

·         “The Innocent Owner Defense to Civil Forfeiture under Federal Narcotics Laws,” White Collar Crime Reporter, September 1992, pg. 1 (co-authors: Barbara A. Reeves and Lauren T. Nguyen).

·         “Plea Bargaining in Securities Cases,” The Review of Securities & Commodities Regulation, August 1991, pp. 145-57.

·         “The Constitutional Significance of the Discriminatory Effects of At-Large Elections,” The Yale Law Journal, April 1982, pp. 974-99.

 

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