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Two Years In: An Inside Look at COVID-19 Relief Fraud and What to Expect Next

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COVID-19 is one of the most significant public health and economic crises in modern history and has since presented myriad challenges to both our professional and personal lives. The U.S. government stepped in with various relief programs, some wildly successful and others less popular, but all of which present the potential for fraud. While fraud enforcement was not initially front and center, now, after two years, the U.S. government has dedicated resources and regulatory frameworks to combat COVID-19 relief fraud, and companies must be prepared for a heightened wave of enforcement.



<p>COVID-19 is one of the most significant public health and economic crises in modern history and has since presented myriad challenges to both our professional and personal lives. The U.S. government stepped in with various relief programs, some wildly successful and others less popular, but all of which present the potential for fraud. While fraud enforcement was not initially front and center, now, after two years, the U.S. government has dedicated resources and regulatory frameworks to combat COVID-19 relief fraud, and companies must be prepared for a heightened wave of enforcement.</p><p>Morrison & Foerster’s team includes former government officials from the U.S. Department of Justice (DOJ), U.S. Securities and Exchange Commission (SEC), and U.S. Food & Drug Administration (FDA), among other government agencies, who regularly advise companies on a wide variety of regulatory, enforcement, and investigative matters. Utilizing this experience, our team will provide first-hand insights on U.S. government resources and regulatory frameworks to be aware of, which can help mitigate potential disputes and regulatory inquiries as we continue to navigate the ever-changing legal landscape surrounding the ongoing COVID-19 pandemic.</p><p><a href="https://www.veracast.com/webcasts/mofo/mcle_programs/0ce965.cfm" target="_blank">View on-demand replay</a></p><h4>Agenda</h4><ul><li>The Current State of the      COVID-19 Pandemic</li><li>DOJ COVID-19 Relief Fraud Focuses,      Enforcement, and Predictions</li><li>SEC COVID-19 Disclosures and      Fraud Enforcement</li><li>PPP Loans and Other Federal      Government Agency Enforcement Concerns</li><li>Q&A Session</li></ul><h4>Speakers</h4><ul><li><strong>Bethany Hills</strong> (moderator) – Co-chair of the FDA Regulatory + Life      Sciences Group with a master’s in public health and epidemiology</li><li><strong>Adam Braverman</strong><strong> </strong>–<strong> </strong>Investigations + White Collar Defense      partner and former Associate Deputy Attorney General and U.S. Attorney for      the Southern District of California in DOJ</li><li><strong>Brian Kidd</strong><strong> </strong>– Investigations + White Collar      Defense partner and former Chief of the Market Integrity and Major Frauds      (MIMF) Unit of the DOJ Criminal Division’s Fraud Section</li><li><strong>Dave Lynn</strong> – Co-chair of the Corporate Finance | Capital Markets Group      and former Chief Counsel of the SEC’s Division of Corporation Finance</li><li><strong>Haima Marlier</strong> – Co-chair of the Securities      Litigation, Enforcement + White Collar Defense Group and former Senior      Trial Counsel at the SEC’s Division of Enforcement</li><li><strong>Tina Reynolds</strong><strong> </strong>– Co-chair of the firm’s Government Contracts & Public Procurement Group and counsels government contractors and other recipients of federal funding on compliance with applicable federal laws and regulations</li></ul><hr>

<p>Two Years In: An Inside Look at COVID-19 Relief Fraud and What to Expect Next</p>

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<p>Tina is Co-chair of Morrison Foerster’s Government Contracts & Public Procurement practice. She represents a wide variety of government contractors including information technology, defense, biotechnology, and pharmaceutical companies, with a focus on general contract counseling and compliance, particularly concerning intellectual property, and cybersecurity matters and federal grant funding.</p><p>Tina counsels contractors on compliance with federal, state and local acquisition and ethics regulations and with the evolving myriad of requirements pertaining to data security and cybersecurity. She has been involved with numerous internal investigations and compliance reviews, and with mandatory and voluntary disclosures to agencies, and litigation of False Claims Act matters.</p><p>Tina routinely advises clients concerning:</p><ul><li>Prime-subcontractor relationships</li><li>Sources of supply and country of origin requirements</li><li>Price reductions and price reporting issues</li><li>Organizational conflicts of interest</li><li>Safeguarding of intellectual property and other proprietary interests</li><li>Licensing and data rights issues</li><li>Handling of classified materials and controlled unclassified information</li><li>Agency suspension and debarment proceedings</li></ul><p>She also assists clients with due diligence and other activities related to the acquisition of government contracting concerns, and with the drafting and negotiation of teaming agreements, subcontracts, licensing agreements, and cooperative research and development agreements. She also assists clients applying for federal grants (including SBIR and STTR agreements), and those who seek to obtain other transactional authority agreements, as well as those competing for state and local government work.</p><p>Tina’s litigation experience includes government contracts claims litigation in federal courts and before boards of contract appeals, bid protests before the Government Accountability Office and the Court of Federal Claims, and complex disputes in federal courts, including civil fraud and False Claims Act litigation and reverse Freedom of Information Act litigation.</p><p>Prior to joining Morrison Foerster, Tina worked at another large national firm and as a trial attorney in the Office of the General Counsel of the Navy, Navy Litigation Office.</p><h4>Representative Experience</h4><ul><li>Negotiation of largest CHIPS Act federal funding agreement between multinational semiconductor corporation and U.S. Department of Commerce.</li><li>Negotiated prime contract and major subcontracts related to the Department of Energy’s next generation supercomputer program, including extensive IP rights negotiations and negotiation of associated patent rights waivers.</li><li>Negotiated series of other transaction authority agreements with DARPA and associated subcontracts with more than a dozen research universities on behalf of a firm biotech client, including complex IP rights allocations and material transfer agreements.</li><li>Assist clients with FedRAMP authorization process and with development of license agreements for software products sold to federal, state and local government agencies.</li><li>Cyber incident response counseling to some of the largest companies and organizations impacted by security incidents.</li><li>Advises clients on Bayh-Dole reporting of inventions and IP strategies for contracts and grants.</li><li>Conducts due diligence for major government contract mergers and acquisitions.</li></ul>

Tina D. Reynolds

Partner

<p>Haima Marlier is co-chair of Morrison Foerster’s Securities Litigation, Enforcement, and White Collar Defense Group and of its Fintech practice. Drawing on her experience as a former Securities and Exchange Commission Senior Trial Counsel, Haima represents public and private companies, financial services providers, and executives, directors, and other individuals in SEC, CFTC, Financial Industry Regulatory Authority (FINRA), state securities regulator, and internal investigations, as well as in related litigation. She has more than 20 years of experience litigating in federal, state, and administrative courts, leading complex negotiations, and representing her clients in mediation. She also counsels clients regarding securities enforcement developments, trends, and risk mitigation.</p><p>Before joining the firm, Haima spent nearly a decade in the SEC’s Division of Enforcement. While at the SEC, Haima served as lead counsel on a number of prominent enforcement litigations and investigations involving public companies, registered investment advisers, broker-dealers, banks, and individuals in matters arising under the federal securities laws. She has also worked closely with foreign securities regulators, numerous U.S. Attorney’s Offices, and FINRA.</p><p>Haima serves on the board of trustees of the SEC Historical Society, a nonprofit dedicated to preserving the knowledge and history of financial regulation; mentors Penn State students of color who aspire to become lawyers; and is a member of the board of directors of, and a volunteer running coach for, Girls on the Run New Jersey, a nonprofit dedicated to inspiring girls to recognize their inner physical and emotional strength. She maintains an active pro bono practice.</p><p>Haima has been recognized by <em>Crain’s New York Business</em>’ Notable Women in Law and Notable Diverse Leaders in Law; <em>The Legal 500 USA</em> as a recommended lawyer in Securities Litigation: Defense, Investigations and White Collar Criminal Defense, and Fintech; the <em>Securities Docket’s </em>Enforcement Elite; and the <em>New York Law Journal</em> for her efforts in the diversity and inclusion space.</p><p>Haima received her J.D. from Boston College Law School and her B.A. from the Pennsylvania State University.</p><h4>Selected Significant Representations:</h4><h5>Cybersecurity</h5><ul><li>Successfully resolved an SEC investigation into a global technology solutions company’s cybersecurity risk disclosures and disclosure controls, policies, and procedures, with an acknowledgment by the SEC of the client’s significant remediation and cooperation.</li><li>Representing a global tech service management company in an SEC inquiry into its cybersecurity incidents and disclosures.</li><li>Represented numerous public companies and other clients in the SEC’s SolarWinds cybersecurity enforcement sweep.</li><li>Advising numerous public companies and SEC-registered firms on the efficacy of their cybersecurity disclosure controls and procedures and the materiality of cybersecurity incidents.</li><li>Represented a major technology company in an internal investigation into its cybersecurity statements and controls, policies, and procedures.</li></ul><h5>Fintech & Crypto</h5><ul><li>Represented a nonprofit foundation supporting a major blockchain, as well as two of its senior individuals, in an SEC investigation, with a complete termination letter issued by the SEC.</li><li>Successfully resolved an SEC crypto investigation into anti-money laundering and other compliance and monitoring programs on behalf a former senior bank executive.</li><li>Representing a leading cryptocurrency exchange platform in responding to SEC, CFTC, and state attorney general subpoenas and other requests for information.</li><li>Obtained a successful federal court settlement for a venture capital fund in a securities class action concerning an unregistered digital token offering.</li><li>Advising numerous Fintech companies, from startups to mature organizations, on securities enforcement compliance best practices and enforcement risk mitigation.</li><li>Represented a private investor in an SEC investigation related to a reverse merger involving a cryptocurrency company with no action taken by the SEC.</li></ul><h5>Artificial Intelligence</h5><ul><li>Representing a major tech company in an SEC investigation focused on AI-related disclosures and policies.</li></ul><h5>Accounting & Financial Reporting</h5><ul><li>Represented the former Chief Operations Officer of a major NASDAQ-listed food distributor in SEC and special committee investigations, with a complete termination letter issued by the SEC, as well as in related Delaware Court of Chancery litigation, which was favorably resolved.</li><li>Successfully resolved SEC and special committee investigations into related-party transaction disclosures and accounting issues, as well as related shareholder litigation, on behalf of a former CEO of a NASDAQ-listed company.</li><li>Represented an audit committee of a public company in an internal investigation resulting from a whistleblower complaint alleging accounting and disclosure issues.</li><li>Represented a leading public company in an internal investigation resulting from a whistleblower complaint alleging accounting and disclosure issues.</li></ul><h5>Other Securities Enforcement Matters</h5><ul><li>Represented the former CEO of a major company listed on the New York Stock Exchange in an SEC insider trading investigation with no action taken by the SEC.</li><li>Represented an individual in an SEC investigation concering the “pay-to-play” rule.</li><li>Represented a private investment fund in a COVID-19 related SEC insider trading investigation with no action taken by the SEC.</li><li>Represented a broker-dealer in a for-cause FINRA examination into anti-money laundering and other issues.</li><li>Represented a leading international company in government investigation into pharmaceutical drug pricing.</li><li>Represented a biotech company in a Massachusetts Securities Division investigation concerning securities registration exemptions and representations to investors regarding securities registration with no action taken by the state regulator.</li><li>Obtained a successful resolution for a pre-IPO biotech company in a wrongful termination lawsuit brought by a co-founder and former CEO terminated by the board of directors.</li><li>Represented the SEC in all stages of federal and administrative proceedings, including at trial and on appeal, in matters involving violations of the federal securities laws.</li></ul>

Haimavathi Marlier

<p>Brian Kidd is a partner in Morrison Foerster’s Investigations + White Collar Defense Practice. His focus is on solving clients’ most difficult legal and regulatory challenges, often in the context of civil and criminal investigations and litigations. Brian has represented public and private companies and their executives in complex government-facing probes, which have resulted in favorable resolutions and declinations among other successes. He also represents boards of directors and companies in conducting complex internal investigations and compliance reviews. Brian regularly counsels his clients through sensitive matters, corporate crises, litigation, and other disputes involving U.S. federal and state law enforcement and regulatory agencies including the Department of Justice (DOJ), Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Department of Education (DOE), District Attorney’s Offices, and state attorneys general, among others. Brian has served as first chair on over a dozen federal trials and is a member of the New York and Washington, D.C., bars.</p><p>Before joining MoFo, Brian served as chief of the Market Integrity and Major Frauds (MIMF) Unit of the Criminal Division’s Fraud Section at DOJ. As chief, Brian supervised a team of roughly 40 federal prosecutors and oversaw the majority of all major fraud cases brought by DOJ during his tenure, with a special focus on investigating and prosecuting complex securities, commodities, and other major corporate fraud cases. Brian oversaw cross-border and corporate prosecutions involving market manipulation, spoofing, insider trading, money laundering, bribery, cryptocurrency, accounting, and procurement fraud. Brian also served as chair of DOJ’s Securities and Commodities Fraud Working Group, where he worked closely with senior leaders at the SEC, CFTC, Federal Deposit Insurance Corporation, and the Federal Reserve.</p><p>Prior to his role as chief of the MIMF Unit, Brian served as an assistant chief of the MIMF Unit from January 2017 to May 2018 and as a trial attorney from October 2015 to January 2017. Prior to joining the Fraud Section, Brian was a trial attorney in the Public Integrity Section of the Criminal Division and an assistant U.S. attorney in the U.S. Attorney’s Office for the District of Puerto Rico.</p><p>Brian is a regular speaker on DOJ, SEC, and CFTC enforcement trends, cross-border investigations, cryptocurrency fraud, COVID-19 relief fraud, and compliance guidelines issued by U.S. regulators and law enforcement agencies, among other topics. He has appeared as a guest speaker on Yahoo Financial Live, has been quoted in <em>ABC News</em>, <em>CNN</em>, <em>USA Today</em>, and <em>Law360</em>, among other publications, and has served as a presenter for leading industry groups, including the Futures Industry Association, Ethisphere, the Society of Corporate Compliance and Ethics, and <em>Global Investigations Review: Live </em>on these issues.</p><p>Brian earned his J.D. magna cum laude from the Benjamin N. Cardozo School of Law and his B.A. from the University of California at Santa Cruz. Brian is also a three-time recipient of the Assistant Attorney General’s Exceptional Service Award. Brian has been an adjunct professor at Georgetown University Law Center since May 2019 and previously was an adjunct professor at the University of Puerto Rico School of Law. </p><h4>Representative Experience</h4><h5><span></span>Defense Experience</h5><p><strong>Securities and Commodities Fraud:</strong></p><ul><li>Representation of a start-up cryptocurrency company in proactive outreach to government agencies, including FinCEN.</li><li>Representation of an executive of a major cryptocurrency exchange in a SEC and CFTC investigation into allegations of financial misconduct.</li><li>Representation of an executive of a major broker-dealer in a DOJ and SEC investigation into allegations of financial misconduct by a former employer.</li><li>Representation of a major cryptocurrency exchange in providing counsel on U.S. commodities laws.</li></ul><p><strong>False Claims Act (FCA) and Misuse of Federal Funds:</strong></p><ul><li>Representation of a healthcare organization in an FCA matter involving kickback allegations.</li><li>Representation of a large for-profit college in multiple investigations involving allegations that the company improperly received and used federal funds. Obtained a declination from DOJ in an FCA investigation.  </li><li>Representation of a large for-profit college in multiple civil suits claiming improper use of financial loan instruments.</li><li>Representation of the board of a prominent advertising and marketing company in an investigation involving allegations that company insiders improperly obtained and used PPP funds. Obtained a declination from DOJ in a criminal investigation. </li><li>Served as the internal reviewer in a post-merger, privileged investigation of a fintech company’s conduct and business activities related to PPP loans to assess risk related to government and congressional investigations.</li><li>Representation of a venture capital firm in reviewing a potential affiliate problem related to $7+ million of SBA and PPP loan funds.</li></ul><h5>Other White Collar Defense and Compliance Matters</h5><ul><li>Representation of an international professional services firm related to its work for opioid manufacturers, which involves complex, multidimensional work involving state attorneys general, DOJ, CPB, and congressional investigations, as well as more than 140 civil lawsuits.</li><li>Representation of a national title insurance company in a criminal investigation being conducted by DOJ.</li><li>Representation of an executive at a U.S. defense contractor in an investigation being led by the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives. </li><li>Representation of a multinational technology company in conducting a risk assessment across the company’s compliance program relating to anti-bribery and corruption, antitrust, anti-money laundering, data privacy and cybersecurity, sanctions, and export controls to recommend potential enhancements.</li><li>Representation of a major broker-dealer in undertaking compliance risk assessments and providing related counseling.</li><li>Representation of a former federal law enforcement officer in a House Oversight Committee investigation into allegations of misconduct.</li></ul>

Brian Kidd

<p>Adam L. Braverman is a partner in Morrison Foerster’s Investigations + White Collar Defense and Commercial Litigation + Trial Groups. Adam formerly served as an Associate Deputy Attorney General for the U.S. Department of Justice (DOJ) and as the U.S. Attorney for the Southern District of California.</p><p>Adam represents companies and their executives in internal and government investigations, white collar criminal defense matters, and parallel civil litigation related to allegations of bribery, government procurement fraud, COVID-19 and CARES Act fraud, and anti-money laundering violations. He has particular experience representing clients in the government contracting, healthcare, life sciences, and professional sports sectors, including in internal and government-facing investigations related to the False Claims Act (FCA) and Anti-Kickback Statute (AKS), procurement fraud, bribery, national security, and disclosure obligations related to promoting foreign interests, among other issues. Adam also designs compliance policies on behalf of corporate clients and conducts trainings to ensure best practices in light of recent revisions to DOJ’s Evaluation of Corporate Compliance Programs and Corporate Criminal Enforcement Policies.</p><p>Additionally, Adam advises on all aspects of complex commercial litigation in federal and state trial and appellate courts and in arbitration. He has represented clients in actions involving breach of contract and a wide array of complex commercial disputes.</p><p>Before joining MoFo, Adam spent 13 years at DOJ, where he served in senior-level leadership positions in multiple administrations. As an Associate Deputy Attorney General, he advised the Deputy Attorney General on litigation and policy matters and was designated to coordinate DOJ’s efforts to investigate and prosecute fraud in connection with COVID-19 and CARES Act relief funds. During his tenure, he worked closely with all of DOJ’s law enforcement agencies, other federal agencies, INTERPOL, and the Organized Crime Drug Enforcement Task Force, as well as state and local law enforcement associations.</p><p>Adam also served as U.S. Attorney for the Southern District of California, where he managed one of the largest and busiest U.S. Attorney’s Offices in the country, comprised of nearly 300 employees. In this role, Adam was responsible for enforcing all violations of federal law in the District and defending the nation in all civil lawsuits. Prior to becoming U.S. Attorney, Adam was an Assistant U.S. Attorney and Deputy Chief, leading complex investigations and prosecutions of large-scale international criminal organizations. Prior to joining the government, Adam was an associate at a leading global law firm, where he dedicated his practice to civil litigation, white collar criminal cases, and internal investigations.</p><p>Adam received his J.D. from the George Washington University School of Law and his B.A., cum laude, from the George Washington University.</p><h4>Representative Experience</h4><ul><li>A major U.S. defense contractor in an FCA matter involving allegations of fraudulent billing and workplace misconduct by a former employee.</li><li>A small U.S. defense contractor in an FCA matter involving allegations of fraudulent billing and misrepresentations on grant applications.</li><li>An international defense contractor in a DOJ criminal investigation of allegations of bribery, wire fraud, and money laundering, as well as a civil investigation involving the FCA and allegations of fraudulent billing.</li><li>A major U.S. defense contractor in an internal investigation involving allegations of U.S. sanctions violations.</li><li>A healthcare organization in an FCA matter involving kickback allegations.</li><li>A medical device company in an internal investigation involving FCA kickback allegations.</li><li>Private equity firms in an FCA matter involving allegations of fraudulent billing.</li><li>An individual investigated by DOJ for alleged violations of International Traffic in Arms Regulations.</li><li>A public company in a Securities Exchange Act Section 14(a) challenge to a proxy statement alleging material omissions. </li><li>A professional sports team in a government investigation.</li><li>A property management company in a class action matter.</li><li>Corporate clients in undertaking compliance risk assessments and providing related counseling.</li></ul>

Adam Braverman

Capital Markets

Public Company Advisory & Governance

Private Equity Investments + Buyouts

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Investigations + White Collar Defense

Securities Enforcement

Two Years In: An Inside Look at COVID-19 Relief Fraud and What to Expect Next - 576062661

Two Years In: An Inside Look at COVID-19 Relief Fraud and What to Expect Next

10 Feb 2022 10:00 AM - 11:00 AM PST

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