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Perry, Avi

Avi Perry

Partner*

aviperry@quinnemanuel.com

Not admitted to the District of Columbia Bar (Supervision by members of the firm who are members of the District of Columbia Bar)

Direct Tel: +1 202 538 8330, Direct Fax: +1 202 538 8100
Washington, D.C.
Tel: +1 202 538 8000 Fax: +1 202 538 8100

Avi Perry, a distinguished former federal prosecutor, is a high-stakes trial lawyer, co-Chair of the Firm’s Securities Litigation Group, and co-Chair of the Firm’s Commodities and Derivatives Group. Mr. Perry also is a member of the Firm’s Investigations, Government Enforcement and White Collar Criminal Defense Group.

Mr. Perry’s practice focuses on defending companies and individuals under investigation by federal and state law enforcement authorities and regulators across the United States, counseling financial services businesses, funds, and trading firms on U.S. securities and commodities laws, and providing advice on the design and implementation of effective corporate compliance programs.

Prior to joining the Firm, Mr. Perry served for nine years as a federal prosecutor at the U.S. Department of Justice, most recently as Chief of the Market Integrity and Major Frauds Unit in the Criminal Division’s Fraud Section. In that role, Mr. Perry supervised 45 white collar prosecutors nationwide and oversaw all of the Fraud Section’s corporate and individual investigations and prosecutions involving securities, commodities, digital assets, and government procurement fraud.

Mr. Perry is a nationally recognized leader in securities, commodities, and derivatives law. Mr. Perry built the Fraud Section’s criminal commodities and derivatives enforcement program, spearheading prosecutions involving spoofing in the futures markets, benchmark price manipulation, cross-market manipulation, and the first-ever commodities insider trading charges under Rule 180.1 of the Commodity Exchange Act. Mr. Perry also oversaw some of the Department’s most significant securities matters, including short-selling investigations and the first prosecution of insider trading under a Rule 10b5-1 executive trading plan.

At the Department, Mr. Perry successfully prosecuted 12 bankers at global financial institutions, including the high-profile trial convictions of seven Managing Directors and Executive Directors at JPMorgan, Merrill Lynch, Deutsche Bank, and Morgan Stanley. He also led seven corporate resolutions with banks and trading firms totaling over $1.5 billion in fines, forfeiture, and restitution, and he oversaw three independent compliance monitorships. Mr. Perry has significant experience with the design, implementation, and testing of effective corporate compliance programs, including the use of trade surveillance software and data analytics to identify irregularities.

Mr. Perry served as a member of the Deputy Attorney General’s Corporate Crime Advisory Group and helped to draft the 2022 revisions to the Department’s Corporate Criminal Enforcement Policies and the 2023 revisions to the Criminal Division’s Corporate Enforcement and Voluntary Self-Disclosure Policy.

Mr. Perry speaks regularly at conference on white collar matters, including digital assets, derivatives, and enforcement trends. He has served as adjunct faculty at Yale Law School and the University of Maine Law School. Prior to joining the Department, he worked as an associate at a law firm in New York and clerked for the Honorable Kermit V. Lipez, United States Court of Appeals for the First Circuit, and the Honorable Mark L. Wolf, United States District Court for the District of Massachusetts.

Corporate Matters (Government)

  • United States v. Glencore Ltd. (D. Conn.) (May 2022)
    • Guilty plea and payment of $485 million to resolve investigation into oil benchmark price manipulation
  • United States v. NatWest Markets (D. Conn.) (Dec. 2021)
    • Guilty plea and payment of $35 million to resolve investigation into fraud schemes in the markets for U.S. Treasury securities and futures contracts
  • United States v. Deutsche Bank (E.D.N.Y.) (Jan. 2021)
    • DPA and payment of $130 million to resolve investigations into FCPA violations and a commodities fraud scheme
  • United States v. JPMorgan Chase (D. Conn.) (Sept. 2020)
    • DPA and payment of $920 million to resolve investigation into spoofing in precious metals futures contracts and U.S. Treasury securities and futures contracts, and price manipulation around barrier options
  • United States v. Bank of Nova Scotia (D.N.J.) (Aug. 2020)
    • DPA and payment of $60 million to resolve investigation into price manipulation and fraud scheme involving precious metals futures contracts
  • United States v. Merrill Lynch Commodities (June 2019)
    • NPA and payment of $25 million to resolve investigation into fraud scheme involving precious metals futures contracts
  • United States v. Tower Research Capital (S.D. Tex.) (Nov. 2019)
    • DPA and payment of $67 million to resolve investigation into spoofing in E-Mini S&P 500, E-Mini NASDAQ 100, and E-Mini Dow futures contracts

Individual Matters (Government)

  • United States v. Smith, et al. (N.D. Il.) (2022)
    • Prosecuted JPMorgan’s Global Head of Metals Trading and top gold trader for manipulating precious metals futures prices
  • United States v. Easterday (E.D. Wa.) (2021)
    • Prosecuted cattle rancher in connection with a $244 million fraud scheme
  • United States v. Bases, et al. (N.D. Il.) (2021)
    • Prosecuted two Executive Directors at Bank of America and Morgan Stanley for spoofing in the futures market
  • United States v. Heredia (N.D. Ca.) (2021)
    • Prosecuted senior oil trader at Glencore for manipulating benchmark prices in $144 million scheme
  • United States v. Vorley, et al. (N.D. Il. 2020)
    • Prosecuted two Executive Directors at Deutsche Bank for defrauding other metals traders
  • United States v. Meissenn, et al. (D. Conn. 2019)
    • Prosecuted two attorneys, CEO of public company, and stock promoters on fraud charges in connection with extensive securities market manipulation scheme
  • Yale Law School
    (J.D., 2010)
  • Yale College
    (B.A., History, cum laude, 2005)
  • New York
  • Connecticut
  • U.S. Department of Justice, Criminal Division, Fraud Section
    • Chief, Market Integrity & Major Frauds (MIMF) Unit (formerly Securities & Financial Fraud Unit), 2021-2023
    • Principal Assistant Chief, 2020-2021
    • Assistant Chief, 2019-2020
    • Trial Attorney, 2018-2019
  • Yale Law School
    • Visiting Clinical Lecturer in Law, 2016-2018
  • U.S. Attorney’s Office for the District of Connecticut
    • Assistant U.S. Attorney, Financial Fraud & Public Corruption Unit, 2014-2018
  • Davis Polk & Wardwell
    • Litigation Associate, 2012-2014
  • University of Maine Law School
    • Adjunct Professor of Law, 2012
  • Law Clerk for the Honorable Judge Kermit V. Lipez
    • U.S. Court of Appeals for the First Circuit, 2011-2012
  • Law Clerk for the Honorable Judge Mark L. Wolf
    • U.S. District Court for the District of Massachusetts, 2010-2011
  • Attorney General’s award for innovation in using data to prosecute crime (2022)
  • U.S. Postal Inspection Service’s Inspector-in-Charge Award (2021)
  • CFTC Chairman’s Award for Regulatory Excellence (2020)

Recent Speaking Engagements

  • Panelist, Swaps and Derivatives and Market Enforcement, PLI Enforcement 2023: Perspectives from Government Agencies, May 2023
  • Panelist, Trials, New York City Bar White Collar Crime Institute, May 2023
  • Panelist, Compliance Roundtable, Global Digital Asset and Cryptocurrency Association, May 2023
  • Panelist, Enforcement Techniques and Tools, SEC Southeastern Securities Conference, Apr. 2023
  • Panelist, Digital Assets and Cryptocurrency Enforcement, ABA White Collar Crime Institute, Mar. 2023
  • Panelist, Enforcement Developments, ABA Futures and Derivatives Law Committee, Annual Meeting, Feb. 2023
  • Panelist, Enforcement Trends, Futures and Derivatives Law Report Symposium, Nov. 2022
  • Panelist, Charging and Defending Individuals in White Collar Cases, PLI White Collar Crime 2022: Prosecutors and Regulators Speak, Sept. 2022
  • Panelist, Update on White Collar and Regulatory Issues for the Business Lawyer, ABA Business Law Section, Annual Meeting, Sept. 2022
  • Panelist, Economic Crimes, Federal Bar Association, Criminal Law Section, Annual Federal Sentencing Guidelines Seminar, Aug. 2022
  • Panelist, Swaps and Derivatives and Market Enforcement, PLI Enforcement 2022: Perspectives from Government Agencies, May 2022
  • Panelist, Parallel Investigations, Joint U.K.-U.S. Symposium on White Collar Enforcement, Apr. 2022
  • Panelist, Assessing Effective Compliance, NYU School of Law Program on Corporate Compliance and Enforcement, Mar. 2022
  • Panelist, Securities Litigation and Regulatory Practice, Atlanta Bar Association, Dec. 2021
  • Panelist, Commodities Enforcement, ABA White Collar Crime Institute, Oct. 2021

Publications

  • Note, “Solving Israel’s African Refugee Crisis,” 51 VA. J. INT’L L. 157 (2010)
  • “Restructuring Insurance Coverage for Drunk Drivers,” 4 HARV. L. & POL’Y REV. 427 (2010)
  • “In Support of a Referendum on the Golan Heights,” 58 UCLA L. REV. DISC. 1 (2010)
  • Comment, “Rethinking the Adequacy of Informal Property Rules: Some Evidence from Maine’s Lobster Fishery,” 15 OCEAN AND COASTAL L.J. 85 (2010)
  • “Administrative Statutory Interpretation in the Antebellum Republic,” 2009 MICH. ST. L. REV. 7 (2009) (with Jerry L. Mashaw)