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False Estimates: A Misguided Notion Under The FCA

Client Alert | 1 min read | 07.22.05

Just as Russian officials have sought to hold weather forecasters liable for bad predictions, some qui tam relators and federal agencies have sought to stretch the False Claims Act (FCA) to impose liability for false estimates. In his article "The Strange Notion of Estimates as Fraud: Will Weather Predictions Be Next Under the False Claims Act?" published in The Procurement Lawyer (Summer 2005 http://www.crowell.com/pdf/BodenheimerSUM05.pdf), David Z. Bodenheimer explains that these "false estimate" allegations cannot be squared with common law rules that generally exclude opinions and predictions as a basis for fraud, FCA requirements that demand objective (not subjective) proof of falsity, and basic federal procurement standards that recognize the subjectivity inherent in estimating future costs.

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Client Alert | 4 min read | 02.19.26

Proposed NY Legislation May Mean Potential Criminal Charges for Unlicensed Crypto Firms

On January 14, 2026, State Senator Zellnor Myrie proposed legislation in the New York State Senate that would amend New York law to make it a criminal offense to operate a virtual currency business in New York without the proper license. By introducing the possibility of criminal penalties, Senate Bill S. 8901, the Cryptocurrency Regulation Yields Protections, Trust, and Oversight Act (CRYPTO Act), would mark a significant regulatory shift in the state’s oversight of virtual currency businesses, given New York’s prominence in virtual currency regulation in the U.S....