The U.S. Department of Justice (DOJ) and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) have recently announced two enforcement actions that demonstrate the U.S. government's aggressive and expansive application of U.S. law to foreign conduct with minimal U.S. nexus. These actions underscore the need for foreign companies and individuals to be aware of and comply with U.S. legal requirements, especially in the areas of anti-corruption and sanctions, and to implement effective compliance programs and controls to mitigate the risk of U.S. enforcement. Our firm has extensive experience and expertise in advising and representing clients on these complex and evolving issues, and we are ready to assist you in navigating the challenges presented by the U.S. regulatory and enforcement landscape.

The recent sentencing of Zixiao "Gary" Wang, a tech expert involved in the $11 billion FTX fraud, underscores the importance of cooperation with authorities in complex and high-stakes crypto cases. Wang, who admitted to helping FTX's founder Sam Bankman-Fried manipulate the code of the bankrupt crypto exchange to siphon off funds from customers and investors, received no jail time but was ordered to forfeit his share of the ill-gotten gains. He was credited for his prompt and substantial cooperation, which included providing crucial information about the code-based ways in which Bankman-Fried committed the fraud and testifying against him at trial.

In today's rapidly evolving technological landscape, the integration of artificial intelligence (“AI”) into various aspects of business operations is becoming increasingly prevalent. From streamlining processes to enhancing decision-making capabilities, AI offers a multitude of benefits for businesses across industries. However, along with these advancements come complex legal considerations, particularly in the realm of tort law.