The U.S. Supreme Court Sharply Curtails Use of the "Honest Service Fraud" Statute

In a ruling with significant implications for public plan trustees and public officials generally, the U.S. Supreme Court has unanimously - and sharply - curtailed the use of a federal law that has been a favorite tool of prosecutors against public officials: the so-called "honest services fraud" statute, 18 U.S.C. § 1346. (Skilling v. U.S., No. 08-1394 (June 24, 2010)). Please see the attached memo for further information.