Jerrob Duffy represents clients facing scrutiny from federal and state law enforcement authorities and regulators, advises clients on compliance, internal controls and risk assessment, and handles complex civil litigation.

Jerrob has expertise in matters involving the Foreign Corrupt Practices Act (FCPA), securities and commodities enforcement, financial industry regulatory enforcement, accounting fraud, money laundering, sanctions violations, healthcare fraud and the False Claims Act. Jerrob is also a seasoned litigator, having served as lead trial counsel in numerous complex trials across multiple federal districts and in state and administrative proceedings. He brings this experience to bear in counseling clients facing existential threats to their business and seeking effective ways to adapt to heightened regulatory and litigation risk.

As the former Chief of the Litigation Unit of the US Department of Justice, Criminal Division, Fraud Section, and as an Assistant US Attorney in the Southern District of Florida, Jerrob prosecuted cases involving securities and commodities violations, foreign bribery and corruption, fraud involving financial services firms, money laundering and cryptocurrency-related violations and numerous other federal offenses. As a federal prosecutor, he served as lead or co-lead trial counsel for 18 federal jury trials involving white collar, corporate, securities and commodities fraud, bank fraud, tax, criminal civil rights, public corruption and other offenses. Jerrob worked closely 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), federal housing finance and financial institution regulators, and other agencies. Jerrob has also evaluated compliance programs of public and private companies, including remediation efforts addressing alleged misconduct, and helped select and supervise monitors when required in connection with corporate resolutions.

Before joining the Department of Justice, Jerrob worked as an associate at a law firm in New York and as a law clerk to US District Judge Joan A. Lenard in the Southern District of Florida.

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Private Practice and Government Experience

FCPA and Bank Sanctions

  • Represented a multinational public company engaged in extractive industries and manufacturing, in connection with alleged FCPA and related accounting and internal controls violations.
  • Conducted internal investigation for an international airline regarding alleged misconduct in multiple Latin American countries. Designed enhanced internal controls, compliance, and testing protocols implemented by the client.
  • Led prosecution of an FCPA matter involving anti-competitive conduct in the telecom business in Eastern Europe, leading to a US$95 million corporate settlement. Conducted complex foreign evidence collection in five countries, including Switzerland, Hungary, and the UK. The case established precedent that minimal use of US email accounts by persons located overseas is alone sufficient to invoke the interstate commerce prong of FCPA.
  • Led prosecution 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 FCPA investigation of a large, US-based technology company engaged in alleged bribery on multiple continents.
  • Represented an overseas financial institution sanctioned by a US financial regulator and allegedly engaged in Bank Secrecy Act violations.
  • Represented a state-owned petroleum company in connection with alleged FCPA violations by former employees and contractors.

Securities and Commodities

  • 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.
  • 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.
  • Represented an entity involved in a public bond offering and investigated by the SEC and criminal authorities related to alleged securities and accounting fraud.
  • Represented a commodity investment firm accused by the CFTC of commodity fraud and violations of commodity pool regulations.
  • Represented a New York-based investment bank in an investigation conducted by the US Attorney’s Office and SEC related to alleged fraud involving mortgage-backed securities.
  • Represented multiple individual subpoena recipients in connection with SEC investigations.
  • Represented a former executive of a commodity trading firm in connection with an investigation conducted by the CFTC.

Financial Services and Commercial Lending Regulation

  • Obtained complete withdrawal of a proposed FHFA suspension of a public company involved in real estate development; suspension would have implicated more than US$1 billion in financing.
  • Represented a publicly traded commercial real estate lender and property management company facing multiple investigations by the Federal Housing Finance Agency, the Office of Inspector General (FHFA-OIG), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
  • Represented a publicly traded investment bank and commercial lender in connection with a federal criminal investigation conducted by the Department of Justice, FBI and FHFA-OIG.
  • Represented multiple professionals involved in the commercial real estate industry facing regulatory scrutiny and suspensions by FHFA OIG, Fannie Mae and Freddie Mac.
  • Represented a national commercial real estate brokerage suspended by Fannie Mae and other federal housing finance regulators.
  • Lead prosecutor for real estate development and commercial lending fraud involving more than 1,400 fraudulent obtained residential mortgages and numerous fraudulently obtained multifamily commercial mortgages, underwritten by Fannie Mae and Freddie Mac. Worked closely with FHFA-OIG, FDIC-OIG, FBI and other federal housing regulators to successful investigate and prosecute 10 individual defendants. Lead trial counsel for three separate criminal trials related to scheme.

Department of Justice and Other Criminal Authorities

  • Represented an overseas foundation advocating on behalf of a high-profile criminal defendant facing extradition proceedings and criminal charges in the US.
  • Represented a former executive of a public healthcare company charged with healthcare fraud by the Department of Justice.
  • Represented the general counsel of a publicly traded company alleged to have engaged in insider trading and tipping, in relation to a publicly announced business combination.
  • Represented a publicly traded company under a court-imposed monitorship following criminal resolution with the Department of Justice, and facing compliance, training, and internal controls issues.
  • Various representations of public companies in connection with grand jury, regulatory and other civil subpoenas issued by federal authorities.
  • Represented a publicly traded petroleum and chemical products processing company accused of Clean Water Act violations by the Department of Justice and the Environmental Protection Agency.

False Claims Act, Qui Tam and Civil Litigation

  • Represented a Latin American raw materials extraction and manufacturing company in connection with allegations of avoiding and underreporting import duties to the US government.
  • Represented an international logistics company under investigation for overbilling and other misconduct related to Department of Defense contracts.
  • Represented a former private company executive in civil litigation involving employment, stock issuance and other disputes with their former employer.
  • Represented a former foreign government official in civil litigation brought by an oligarch who had been sanctioned by the US government.

Education

  • University of Cape Town, School of Law, L.L.M., 1998
  • University of North Carolina Chapel Hill School of Law, J.D., 1996
  • Princeton University, School of Public and International Affairs, M.P.A., 1996

Admissions

  • Florida, 2024
  • District of Columbia, 2023
  • California, 2013
  • New York, 1997

Languages

  • English
  • Spanish

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