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Jerrob Duffy represents clients facing white collar investigations and regulatory enforcement, counsels clients on corporate compliance and risk assessment and handles complex civil litigation. Jerrob has expertise in matters involving Foreign Corrupt Practices Act (FCPA), securities and commodities enforcement and international money laundering and financial crimes investigations. Jerrob is a seasoned litigator, having tried numerous cases before a jury, including serving as lead trial counsel for white collar and complex fraud matters.
As the former Chief of the Litigation Unit of the US Department of Justice Criminal Division, Fraud Section, Jerrob supervised complex, multi-district litigation, including trial and appellate matters. In this capacity, and previously as an Assistant US Attorney, he prosecuted cases involving foreign bribery and corruption, securities and commodities violations, financial institution fraud, accounting fraud, health care fraud, money laundering and decentralized finance and crypto-related violations. In this capacity, Jerrob worked in parallel with regulators at the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network Bureau of the US Department of the Treasury (FinCEN) and other agencies.
Jerrob has conducted cross-border investigations, worked with foreign law enforcement and regulatory authorities to collect evidence related to securities and corporate fraud matters, and worked on extradition litigation. He also has evaluated compliance programs of publicly traded companies, including remediation efforts, and has evaluated and helped select monitor candidates when monitors were imposed in connection with corporate criminal resolutions.
Prior to leading the Litigation Unit of the DOJ Fraud Section, Jerrob was a Senior Litigation Counsel in the FCPA Unit and was an Assistant US Attorney in the Southern District of Florida. Jerrob also created and led the Fraud Section’s Special Matters Unit (SMU), devising new strategies for handling privileged materials in white collar investigations and initiating privilege litigation in dozens of criminal cases across the country.
After serving as a law clerk to US District Judge Joan A. Lenard in the Southern District of Florida, Jerrob began his legal career in private practice, focusing on white collar and commercial litigation in New York.
FCPA and Corruption
- Lead prosecutor in FCPA prosecution involving anti-competitive conduct in the telecom business in Eastern Europe, leading to a USD $95 million corporate settlement. He led complex foreign evidence collection in five countries, including Switzerland, Hungary, and the United Kingdom. The case established the notable precedent that minimal use of US email accounts by persons located overseas is alone sufficient to invoke the interstate commerce prong of FCPA.
- Sole prosecutor of an FCPA matter involving bribery by an Argentine oil services company, resulting in substantial criminal resolution by non-prosecution agreement. The parallel US Securities and Exchange Commission (SEC) matter resulted in the agency’s first-ever use of a deferred prosecution agreement.
- Led an FCPA investigation of a large, US-based technology company engaged in alleged bribery on multiple continents.
- Lead counsel for litigation involving efforts by third parties to set aside a US$2.5 billion corporate resolution involving a multinational aerospace company.
Securities Enforcement
- Lead counsel for investigation and prosecution of a US$287 million securities fraud scheme involving nearly 3,400 investors.
- Lead trial counsel in three separate trials involving a US$300 million securities fraud and fraudulent SEC registrations related to property acquisition and investment in Florida.
- Lead trial counsel in a six-week trial of a US-based investment sales company’s executives, who perpetrated a US$750 million securities fraud. Convictions for securities fraud, obstruction, and money laundering were obtained.
- Lead trial counsel in a securities fraud trial of a lawyer engaged in fraudulent share registrations and classifications, as well as false certifications of SEC filings by lawyers and accountants engaged in false representations pursuant to Rule 144 of the Securities Act of 1933.
- Sole criminal prosecutor who worked with the SEC’s Microcap Fraud Task Force in a multi-year effort to criminally prosecute industry professionals dealing in fraudulent share registrations and unlawful sales of restricted shares and manipulative trading for more than 30 issuers.
- Lead counsel for securities enforcement action involving a securities broker-dealer engaged in insider trading and unlawful share transfers.
Commodities Enforcement
- Lead counsel for commodities price manipulation investigation related to the North American propane futures market, including corporate prosecution resulting in US$303 million criminal and parallel Commodities Futures Trading Commission (CFTC) settlement for commodities offenses.
- Led commodities price manipulation investigation related to high-speed options trading by a prominent hedge fund, including a “marking the close” trading scheme. He worked closely with the CFTC in a parallel civil investigation that resulted in a criminal resolution and a separate CFTC enforcement action.
Education
- University of North Carolina Chapel Hill School of Law, J.D., 1996
- Princeton University, School of Public and International Affairs, M.P.A., 1996
- University of Cape Town, School of Law, L.L.M., 1998
Admissions
- New York, 1997
- California, 2013
- District of Columbia, 2023
Languages
- English
- Spanish
- Co-author (with John Kosmidis), “Crime-fraud Litigation in White-collar Prosecutions”, Department of Justice Journal of Federal Law and Practice (Issue on Combating White-collar Crime and Fraud), December 2022.
- Panelist, “Examining the Complexities of Protecting the Privilege in Internal and Government Investigations,” National Institute on White-Collar Crime Conference, American Bar Association (ABA), March 2022.
- Panelist, “Enforcement Trends and Challenges in Cross-Border Parallel Proceedings,” UK Serious Fraud Office/Financial Conduct Authority Conference, US Department of Justice Criminal Division, May 2022.
- Panelist, “Emerging Payments and Cryptocurrency in the Casino Industry”, Annual Bank Secrecy Act/Anti-money Laundering (BSA/AML) Gaming Conference, October 2022.