Securities and Exchange Commission, Division of Enforcement
District of Columbia
U.S. Court of Appeals for the First Circuit
U.S. Court of Appeals for the Fourth Circuit
U.S. Court of Appeals for the Second Circuit
U.S. District Court for the District of Columbia
U.S. District Court for the Eastern District of New York
U.S. District Court for the Southern District of New York
George Kostolampros advises and represents clients in investigations and litigation by federal, industry and state regulatory and enforcement authorities before the U.S. Securities and Exchange Commission (SEC), the Department of Justice (DOJ), Financial Industry Regulation Authority (FINRA) and other government agencies and self-regulatory agencies. He has extensive experience advising audit committees, special committees, broker-dealers, hedge funds, asset managers, financial professionals, lawyers, and other institutions and individuals in connection with civil and criminal law enforcement. Mr. Kostolampros also has significant experience conducting internal investigations for clients relating to the securities laws and the Foreign Corrupt Practices Act (FCPA).
In addition, Mr. Kostolampros has significant experience litigating matters involving securities laws and other business disputes, including class action litigation. He has represented clients in administrative proceedings before the SEC and litigation involving shareholder disputes, False Claims Act claims, breach of contract, and other business disputes.
Mr. Kostolampros also counsels clients with respect to corporate governance, internal controls, and compliance programs. His compliance-related work has included various aspects of the securities laws and drafting policies and procedures, including codes of conduct, insider trading, anti-corruption and FCPA, and other policies.
Prior to joining Venable, Mr. Kostolampros was a senior counsel in the Division of Enforcement of the U.S. Securities and Exchange Commission, both in New York and in Washington, DC. While at the SEC, he investigated possible violations of the federal securities laws, including accounting fraud, improper mutual fund trading, market manipulation, FCPA violations, and other conduct. During his tenure at the SEC, he worked closely with other federal and state agencies, including the Department of Justice, United States Attorney’s offices, and the Office of the New York Attorney General.
- Investment Adviser and its partners in SEC enforcement administrative proceeding alleging violations of the Advisers Act, including representing client at administrative hearing, petition for review before the full Commission, and before the D.C. Circuit on appeal.
- Represented multinational foreign issuer in FCPA investigation by the SEC and DOJ and conducted internal investigation and compliance-related work for same client.
- Point Blank Solutions, Inc., a publicly traded government contractor that manufactured bullet-resistant vests, in an SEC and DOJ criminal investigation relating to accounting fraud, looting, and insider trading allegations against former senior executives. Represented the company and its employees throughout the government investigations and after the former senior executives were indicted, tried, and convicted in the EDNY. The company cooperated with the criminal authorities, and no criminal action was brought against the company. The company entered into a settlement with the SEC (SEC v. DHB Industries, Inc., No.0-11-cv-60431 (S.D. Fla.)) for no penalties. Ultimately, represented client in restitution criminal sentencing of its former officers that led to the company being awarded approximately $59 million in restitution as a victim of their fraud.
- Also represented Point Blank in Department of Justice, Civil Division, industry-wide investigation arising from the use of a defective fiber in the manufacture of a vest ultimately sold to law enforcement and in civil litigation brought against the manufacturer of the fiber (Point Blank v. Toyobo, Case No. 09-61166 (S.D. Fla)), which ultimately settled on the first day of trial.
- Former controller of StarMedia, Inc. in SEC enforcement action brought in the Southern District of New York (SEC v. Espuelas, et al., 06-civ-2345 (S.D.N.Y)).
- CFO of publicly traded company in SEC enforcement proceeding relating to a restatement arising from a financial fraud conducted by management at a foreign subsidiary. CFO was not alleged to have participated in the fraud, but was charged with internal control violations and violated Section 304(a) of SOX for not reimbursing the company his incentive-based compensation subject to clawback because of the restatement.
- CFO of publicly traded company with sales of over $1 billion in SEC investigation into allegations of accounting improprieties and earnings management. Successfully convinced SEC enforcement staff to recommend that no enforcement proceedings be brought against our client or the company for which he worked after the client was given a Wells notice.
- AmLaw 100 firm in connection with SEC investigation of the firm's former client. The SEC ultimately brought an action against the firm’s former client, alleging that the firm and its president devised a fraud and Ponzi scheme.
- Audit committee of publicly traded company in internal investigation as to whether officers of company misstated company’s financials and disclosures regarding the value of assets valued initially at over $1 billion and presented findings to special committee, auditors, and the SEC.
- Former SEC enforcement attorney in appeal of criminal fraud verdict finding client participated in a series of pump and dumps. On appeal we argued that, among other things, the trial court erred in allowing improper expert testimony and improper 404(b) evidence. The Fourth Circuit ultimately affirmed the verdict and the Supreme Court denied cert. (U.S. v. Offill, 666 F.3d 168 (4th Cir. 2011)).
- A foreign national and his company in criminal proceeding alleging that the client conspired to illegally export aircraft parts to Iran in violation of International Emergency Economic Powers Act and Iranian Transaction Regulations.