Episode 92

Presumption of Innocence - Episode 92

Hosted by Matt Adams and John C. Coffee Jr.

For 50 years, he's studied the people who watch the markets. Now that the watchers have stopped showing their work, he's assembled the nation's top securities scholars to do it for them as the Shadow SEC.

On this episode, host Matt Adams sits down with Columbia Law Professor John C. Coffee Jr. to discuss the work of the Shadow SEC, a self-funded, no-industry-money coalition monitoring the Securities and Exchange Commission in real time.

The conversation sheds light on what's actually happening inside the SEC: the elimination of 50 years of quarterly reporting requirements, a disclosure threshold shift that drops 85% of public issuers from the highest reporting tier, a proposed wholesale repeal of a decade's worth of climate change rules and a looming push to let companies force shareholders into private arbitration instead of securities class actions.

This deregulatory blitz isn't happening in a vacuum. Matt and Professor Coffee examine the larger crisis underneath it, which is the subject of his book, Corporate Crime and Punishment: The Crisis of Underenforcement. Professor Coffee discusses why enforcement resources have been redirected away from white-collar crime and why billion-dollar corporate penalties still don't deter. He also shares his provocative proposal to penalize corporations in their own stock so the hit lands on shareholders instead of wiping out workers and entire communities.

This episode is essential listening for anyone who touches the securities markets: defense attorneys, prosecutors, compliance officers, in-house counsel and investors alike.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 91

Broadview Six Scandal, Part 2: Covering the Collapse

Hosted by Matt Adams

When a federal prosecution unravels in open court, it takes an experienced courthouse reporter to recognize what's happening and explain why it matters.

Host Matt Adams sits down with Jon Seidel, a veteran federal courts reporter for the Chicago Sun-Times who has covered Chicago's federal courthouse for more than a decade, including the trials of former Illinois House Speaker Michael Madigan and former Chicago Alderman Edward Burke.

This episode picks up where Part 1 left off, moving from inside the courtroom to the press gallery. Jon recounts the extraordinary day he watched U.S. Attorney Andrew Boutros personally acknowledge vouching and other prosecutorial misconduct in the Broadview Six case before a federal judge, only to then continue defending the case even as he dismissed the charges with prejudice.

He describes the Sun-Times' legal fight to unseal the proceedings, the moment the full scope of grand jury misconduct came to light, and what the fallout has meant for the broader credibility of the U.S. Attorney's office in Chicago.

The conversation includes a candid discussion of journalism as an accountability mechanism, including why dedicated beat reporting matters, how reporters guard against becoming a vehicle for either side's narrative, and what comes next as Judge Perry weighs sanctions.

Revisit Part 1 of our series, when Matt speaks with former prosecutors Nancy DePodesta and Chris Parente, defense attorneys who represented two of the Broadway Six.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 90

Broadview Six Scandal, Part I: Inside the Grand Jury Room

Hosted by Matt Adams

What happens when the very safeguards built into our justice system are tested from within? Can the institution entrusted to uphold them be trusted to hold itself accountable?

Host Matt Adams sits down with defense attorneys Nancy DePodesta and Chris Parente, both former federal prosecutors who represented two of the “Broadview Six” defendants indicted by a grand jury following a protest outside the Broadview Processing Center, a federal immigration processing facility located in a suburb of Chicago

This episode pulls back the curtain on what actually happened inside that grand jury room — including a prosecutor accused of improper contact with jurors outside the proceedings and redacted transcripts that a federal judge had to fight to see in full. It builds toward a dramatic turn: the U.S. Attorney personally appearing in court to dismiss all remaining charges with prejudice.

Nancy and Chris share how they first sensed something was wrong, the extraordinary lengths it took to get the full transcripts released, and what accountability could look like going forward, including a pending motion for an independent prosecutor. The conversation closes with hard-won lessons for defense lawyers, prosecutors, and judges navigating high-profile, emotionally charged cases.

Look for Part Two of this podcast episode, featuring a Chicago Sun-Times reporter who covered the Broadview Six case, coming soon.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 89

Diary of a Healthcare Fraud Investigator: Inside the FBI's War on Fraud

Hosted by Matt Adams

Over the course of 26 years and five presidential administrations, she handled cases worth hundreds of millions of dollars and formed the DOJ’s top healthcare fraud unit.

In this episode, host Matt Adams sits down with Laurie Allen, a former FBI Supervisory Special Agent, corporate lawyer and Air Force veteran with a degree in math. Now a principal at Withum, Laurie reveals how her unconventional background shaped a methodical, step-by-step investigative style that has defined her career.

The conversation goes behind the headlines: from a kickback scheme involving over 50 healthcare providers and $100 million in restitution, to an "evil genius" stock-hacking scheme and the cell-structured "Operation Brace Yourself" telemarketing fraud that kept conspirators insulated from one another.

Laurie also breaks down how modern investigations actually originate — qui tam whistleblower suits, tips from scorned exes, and increasingly, AI-driven data analytics — and why data alone will never replace a human "storyteller" willing to talk to agents.

Whether you're a healthcare executive, compliance officer or defense attorney, this episode offers rare insider perspectives from both sides of the federal enforcement equation.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 88

Bargained Away: Inside America's Plea Machine

Hosted by Matt Adams

The Bill of Rights devotes more space to jury trials than any other topic. Yet today, over 90% of criminal convictions are obtained through plea bargains. How did we get here?

In this provocative episode, host Matt Adams sits down with Clark Neily, Senior Vice President for Legal Studies at the Cato Institute, who calls America’s criminal justice system a “raging dumpster fire of injustice” driven by prosecutors who prioritize efficiency over justice.

Matt and Clark explore how trial penalty, charge stacking, mandatory minimums, pretrial detention and even threats against family members are used as tools to pressure defendants — including innocent defendants — into pleading guilty.

Clark traces the historical rise of mass plea bargaining and discusses bold reforms like plea integrity units and trial lotteries that could help restore the Constitution’s promise of trial by jury.

From real-world courtroom stories of prosecutorial overreach to shocking historical parallels with medieval torture, this episode is a bracing look at how America’s criminal justice system became dominated by coercive plea bargaining.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 87

Public Defense Reimagined: A New Jersey Blueprint

Hosted by Matt Adams

In this episode of The Presumption of Innocence, host Matt Adams sits down with Jennifer Sellitti, who leads New Jersey’s Office of the Public Defender, to discuss her office’s holistic defense pilot in Atlantic, Hudson and Monmouth Counties.

The program pairs attorneys with client service specialists, many who have firsthand experience with the justice system, to connect clients with a range of services that address the broader needs driving criminal justice involvement.

The pilot has shown promising results for participants: a 98% arrest-free rate among a parole-related subset, prison sentences that are 65% shorter than the national average, and an average reduction of 2.2 years in state prison exposure.

At an estimated $75,000 per year to incarcerate one person in state prison, Sellitti explains the program could generate substantial taxpayer savings while helping clients rebuild their lives. Legislation is pending to expand the program across New Jersey.

Sellitti also discusses the core role of public defenders in protecting constitutional rights, including her office’s recent representation of protesters arrested outside Newark’s Delaney Hall ICE detention facility.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 86

Weaponization of DOJ Isn't New: The Untold Story of Stephen Keller

Hosted by Matt Adams and Stephen Keller

Weaponization of the criminal justice system was happening long before it had a name.

That's what Stephen Keller posits in his book, Pay to Play: Political Corruption, Corporate Greed, and the Cost of the American Dream.

In the late 1990s, Stephen was living every entrepreneur's dream. In his late twenties, he entered the viatical settlement market and went on to essentially create the life settlement industry, which today moves $30 billion annually.

But as Stephen's company became the largest player — and disruptor — in the sector, he found himself walking around with a target on his back. A specific, well-resourced insurance company, threatened by his business model, allegedly orchestrated a coordinated effort with federal authorities to bring him down.

In this powerful episode of "The Presumption of Innocence," host Matt Adams sits down with Stephen to discuss the alleged takedown, the pay-to-play political system he encountered while seeking relief, the life-altering moment when the U.S. Attorney General inexplicably arrived at his federal trial to meet privately with the judge, and his ceaseless attempts to clear his name during the nine years he spent in prison.

This is an episode you won't want to miss.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 85

The Presumption of Innocence - Episode 85

Inside the Interrogation Room: A Psychologist's Mission to End False Juvenile Confessions

An innocent person would never confess to a crime they didn't commit, right?

That's what most people believe. But the science tells a very different story.

In this compelling episode of “The Presumption of Innocence,” host Matt Adams talks with Dr. Hayley Cleary, a Virginia Commonwealth University professor who is an expert on police interviews and the interrogation of youth.

Their conversation unpacks the psychology of how an interrogation room can turn into a false-confession risk zone — especially for juveniles and adolescents who are generally socialized from a young age to comply with requests from authority figures in virtually every facet of their lives.

This episode takes you inside the interrogation room, exploring how police tactics can distort a suspect's choices, particularly for vulnerable juveniles. Dr. Cleary also discusses the potential impact of reforms, such as recorded interrogations and science-based police questioning, and how new virtual-reality research is providing insight into the experience of being interrogated from the subject’s perspective.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 84

The Presumption of Innocence - Episode 84

Host Matt Adams sits down with former Enron Task Force lead prosecutor and Duke Law Professor Samuel Buell to trace the arc of corporate fraud enforcement — from the historic conviction of Enron's top executives to the challenges facing regulators and prosecutors today.

Buell offers a candid look at how the Enron prosecution came together, including the pivotal decision to flip CFO Andrew Fastow, the controversial case against Arthur Andersen, and why holding individuals accountable in America's boardrooms remains far more difficult than the public tends to assume.

Buell makes the case that criminal prosecution alone cannot prevent the next corporate crisis — and that strong regulatory infrastructure may matter more than any single perp walk.

With the Department of Justice closing over 23,000 cases, the SEC losing experienced staff, and career prosecutors stepping away, Buell reflects on what happens when enforcement capacity erodes.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.

Episode 83

Section 230 at 30: Can the Law That Built the Internet Survive?

For 30 years, Section 230 of the Communications Decency Act gave online platforms broad immunity from liability for user-generated content.

But that shield is now full of holes and cracking in every direction.

In this episode, host Matt Adams and Eric Goldman, Associate Dean for Research at Santa Clara University School of Law and a leading internet law scholar, break down Section 230's core doctrine, its statutory carve-outs and the creative legal theories plaintiffs are using to get around it.

They examine why federal prosecutors can pursue criminal cases against platforms, while state attorneys general have been sidelined, even as they push for reform.

They also explore Section 230’s applicability to generative AI and whether the Supreme Court might ultimately weigh in on the statute.

You won’t want to miss this thought-provoking conversation, including a discussion on whether we've already passed the peak of free speech online and if Section 230 reform is just the canary in the coal mine.

The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.