From Pine View Farm

Privileged Communications? 2

This case seems to involve a clash between the Computer Fraud and Abuse Act and lawyer-client privilege.

The FDIC claims that the documents were illegally removed from the premises of the banks in question; the lawyers claim they ain’t talking. My intense study of Law and Order reruns leads me to think that, if the documents should not have been removed from the premises of the business in the first place, privilege does not apply.

I certainly know where my sympathies lie.

The FDIC seeks the return of files and records that officers and directors at the five financial institutions copied and gave to private lawyers before their banks collapsed, according to documents in two cases filed in federal court in Atlanta.

The FDIC is also preparing to file negligence and fraud suits against executives of failed banks. The FDIC board has authorized civil suits against more than 80 officers and directors of failed banks, while the bank regulator and the FBI are cooperating on about 50 cases of possible criminal violations involving former and current bank employees and customers.

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2 comments

  1. Mithras

    November 20, 2010 at 2:56 pm

    Not my area of law, but the attorney-client privilege does not protect facts from being discovered.  If it did, all a white-collar criminal would have to do is turn over all his business records to his lawyer and the facts contained therein would magically become “privileged”.

     
  2. Frank

    November 20, 2010 at 7:56 pm

    Thanks. It looks to me like a delaying tactic.

    A Tom DeLaying tactic.

     
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