Patrick is a partner of Ropes & Gray LLP in the Hong Kong office. He is a member of the government enforcement group. Patrick has more than a decade of experience representing U.S.-based and international corporations, audit committees, banks, individuals, and the government in corporate criminal investigations. His practice is focused on white collar criminal defense, internal investigations, and risk assessment in the anti-corruption and sanctions spaces.
Patrick regularly leads internal investigations for multinational corporations in Asia. Much of his work has focused on the unique challenges facing multinational corporations with operations in China and Southeast Asia in the context of FCPA, OFAC, AML and BIS compliance.
Patrick has also represented a number of individuals based in Asia who were the subject of inquiries from United States Attorneys’ Offices, the SEC, CFTC and other regulators in the United States.
Patrick served as a federal prosecutor in the U.S. Attorney’s Office for the Eastern District of New York from 2007 to August 2014, and was appointed Deputy Chief of the General Crimes Section in 2013. In that role, he supervised prosecutors conducting investigations, hearings, trials and appeals, and served as lead prosecutor in a case convicting a CEO with commercial bribery, FCPA violations and tax evasion. As an Assistant U.S. Attorney for the Eastern District from 2007 through 2012, Patrick investigated and prosecuted individuals and organizations in connection with the 2008 economic collapse. He handled numerous cases involving the FCPA, OFAC regulations, the mail, wire and securities fraud statutes, the Travel Act, money laundering statutes, the Lacey Act, and the Bank Secrecy Act. In recognition of his achievements at the U.S. Attorney’s Office, Patrick received the U.S. Attorney’s Excellence in Criminal Litigation Award, as well as commendations from the SEC, FBI and U.S. Treasury.
- Developed and implemented an investigative protocol for compliance escalations within the Asian operations of a multinational life sciences company, leading over 20 internal investigations in China and Thailand.
- Represented the former CAO/COO for the Chinese and Korean operations of a global retailer in connection with inquiries from the Department of Justice Fraud Section and the Securities and Exchange Commission.
- Represented a multinational life sciences company in connection with inquiries from the World Bank in connection with the company’s operations in Malaysia.
- Led an investigation for the audit committee of a Chinese-based/U.S.-traded retailer into a short-seller’s allegations of financial fraud and fictitious sales.
- Advised an acquisition deal team in connection with potential exposure related to the target company’s disclosure of various export control compliance failings and violations.
As a federal prosecutor, Patrick supervised, investigated and prosecuted a number of high-stakes business fraud investigations, as well as other criminal matters. Representative matters from his time with the U.S. Attorney’s Office include:
- Investigating and prosecuting the head of a telecommunications company for money laundering, commercial bribery, violations of the FCPA and tax fraud in connection with the company’s business in eastern European markets.
- Investigating and prosecuting a corporate bribery scheme in which officers and managers of a software company bribed technology executives at a large international financial institution to sell software contracts. The investigation involved bribes in China potentially implicating the FCPA.
- Working with the Federal Reserve Bank of New York to investigate a large national bank’s correspondent relationships with several Eastern European banks following the filing of many untimely SARs. The investigation involved monitoring the bank’s compliance practices related to the U.S. anti-money laundering, Bank Secrecy Act (BSA) and Patriot Act statutes and related regulations, including SARS filing requirements and Know Your Client requirements.
- Working with Russian Federation law enforcement agents to identify money laundering activities and track the proceeds of Russian criminals and forfeit U.S. property, including buildings and bank accounts that were obtained with the proceeds of a bid-rigging scheme and improper bond issuances in Moscow.
- Prosecuting 18 defendants involved in a securities and investment advisers fraud by selling fraudulent newsletters and stock/option advice to investors in the United States and internationally.
- Investigating entities and trying persons related to the collapse of two large hedge funds, including negotiating and litigating complex issues related to parallel SEC enforcement action, state and federal civil actions, arbitrations, and determination of successor liability.
- Investigating and prosecuting the portfolio manager of the New Century Hedge Fund, who was engaged in a Ponzi scheme, defrauding investors of approximately $10 million.
Representative matters from Patrick’s time in private practice include:
- Representing a Japanese bank faced with the challenge of unwinding several long-term oil contracts with Iranian suppliers in order to comply with new OFAC regulations/Iranian sanctions.
- Representing a large U.S. financial institution in a review of its Bank Secrecy Act compliance following the discovery of several questionable and unreported cash/traveler’s check transactions involving Mexican currency exchange businesses.
- Representing a U.S. institutional investment adviser in connection with its practice of selling proprietary investment instruments (e.g., mutual funds and hedge fund limited partnership interests) that were controlled by a corporate parent. The engagement involved several presentations to the New York State Attorney General and the SEC in connection with the investment adviser’s successful bid not to be sued in an enforcement proceeding.
- Representing a Canadian bank in connection with an adversarial enforcement proceeding with the SEC in which the bank challenged the SEC's interpretation of several "pay to play" prohibitions within the MSRB rules.
- Quoted, “Agricultural Bank's $215 million AML fine a clear warning for Chinese banks,” Reuters (December 2, 2016)
- Co-author, “米国司法省による取締り: 最新動向と日本企業が留意すべきリスクおよび対応策 (DOJ Enforcement Actions: Risk and Recent Trends that Japanese Companies Should Be Aware of While Conducting Business in the United States)” jointly authored with partners of Nishimura & Asahi. The book was published by 商事法務 (Shoji Homu Co., Ltd.) as part of the Nishimura Institute of Advanced Legal Studies (May 2016)
- Co-author, “Trade Secret Enforcement and Compliance,” American Journal of Commerce in Korea (2015 Fourth Quarter Edition)
- Quoted, “Korean Companies Active in Global Financial Markets Are Not Prepared for FCPA,” Dong-A Ilbo (June 18, 2015)
- Co-author, “Ready for Uncle Sam to Subpoena Your Overseas FATCA Documents?” Bloomberg BNA Corporate Law and Accountability Report (Dec. 2014), Republished in the BNA Daily Tax Report
- Moderator, “Increased Governmental Expectations for Companies’ Compliance Programmes,” IBA Asia Pacific Regional Forum on Anti-Corruption Compliance and Enforcement, Seoul (November, 2016)
- Speaker, “The Evolving World of CSR and ESG – Implications for Global Businesses and Investors” Ropes & Gray roundtable co-hosted with FTI, Hong Kong (September 2016)
- Speaker, “Cross-Border Government Investigations – How to be Prepared and Considerations that Companies Should be Aware of When Interacting with U.S. and Japanese Regulators” Ropes & Gray and The Japanese Institute of International Business Law, Inc. Co-hosted Seminar, Japan (June 2016)
- Speaker, “Corruption: An Industry Prospective: How Has the Life Sciences Industry Experience Shaped Compliance Efforts in South East Asia.” ALB’s South East Asia Anti-corruption forum, Singapore (May 2016)
- Moderator, “Litigating Marriage Equality: A Conversation with Leading Lawyers from the United States and Hong Kong,” Ropes & Gray Seminar, Hong Kong (April 2016)
- Speaker, “Recent Developments in US and EU Sanctions Regimes,” ICC representatives, Beijing China (April 2016)
- Speaker, “As U.S. Sanctions Programs Expand and Evolve Japanese Companies Face New Challenges,” Ropes & Gray Tokyo Morning Briefing (October 2015)
- Speaker, “DOJ Enforcement Actions: Risks and Recent Trends that Japanese Companies Should be Aware of While Conducting Business in the United States,” Ropes & Gray and Nishimura & Asahi Co-hosted Seminar, Japan (April 2015)
- Speaker, “Good morning Mr. Regulator – Being prepared for the unexpected visitor” at The American Lawyer US China Legal Summit, Hong Kong (March 2015)
- Speaker, “Trends in Insider Trading,” GIAM Ops Cayman Conference, Cayman Islands (April 2013)