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Justices Extend Prosecutors' Winning Streak in Financial Fraud Enforcement

Challenge to bank-fraud law fails Monday, one week after prosecutors won an insider-trading case.

, The National Law Journal

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A week after federal prosecutors scored a unanimous victory in a securities law challenge in the U.S. Supreme Court, they notched another win Monday in prosecutions under the federal bank fraud law. In Shaw v. United States, the justices, ruling 8-0, rejected Lawrence Shaw's arguments that the federal crime of bank fraud did not apply to him because he intended to cheat a bank depositor, not a bank.

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