Laurel Loomis Rimon

Partner

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Laurel Loomis Rimon is a former federal prosecutor and experienced litigator who represents clients on a broad range of anti-money laundering and Fintech enforcement issues, as well as sensitive internal investigations and criminal and civil litigation.

As a member of O’Melveny’s Coronavirus Task Force, Laurel advises clients on their eligibility for and obligations under available federal finance programs. She counsels small to mid-size businesses on SBA lending, Federal Reserve credit facilities, and health and human services grants and state and local governments on federal block grants.

Before coming to O’Melveny, Laurel served for more than 15 years as an Assistant United States Attorney and DOJ Trial Attorney, with a particular focus on litigating complex criminal and civil money laundering and other financial crimes involving some of the largest domestic and international corporations and financial institutions. As the head of Litigation for DOJ’s Asset Forfeiture and Money Laundering Section, she successfully coordinated numerous investigations of international financial institutions related to money laundering and sanctions violations, resulting in Deferred Prosecution Agreements coordinated with the Manhattan District Attorney’s Office and the Office of Foreign Assets Control. Laurel also served as Chief of the Special Prosecutions Unit at the US Attorney’s Office for the Eastern District of California, where she played a leading role in important mortgage fraud initiatives, including conducting jury trials.

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Corporate & Government Experience

  • General Counsel, Office of the Inspector General, US Department of Homeland Security
  • Assistant Deputy Enforcement Director, Office of Enforcement, US Consumer Financial Protection Bureau
  • Chief, Special Prosecutions Unit, US Attorney’s Office for the Eastern District of California
  • Deputy Chief, Financial Investigations and Litigation Unit, Asset Forfeiture and Money Laundering Section, US Department of Justice
  • Assistant US Attorney, Fraud and Public Corruption Section, US Attorney’s Office for the District of Columbia
  • Trial Attorney, US Department of Justice Civil Division

Honors & Awards

  • Recognized as a “DC Trailblazer” by the National Law Journal (2020)
  • Assistant Attorney General’s Award for The Safeguarding and Maintenance of Confidence in the American Marketplace
  • Assistant Attorney General’s Award for Outstanding Advocacy in Protecting Citizens from Online Crime

Admissions

Bar Admissions

  • District of Columbia
  • California

Education

  • Southwestern Law School, J.D. 
  • University of California at Berkeley, B.A.

Professional Activities

Clerkships

  • Honorable Kenneth Harkins, US Court of Federal Claims

Author

Speaker

  • “Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems” American Conference Institute (July 29, 2020)
  • “Legal Perspectives on Fintech, BSA/AML,” International Bankers Association of California’s Special Update on Regulatory Hot Topics, FinTech Solutions and OFAC Compliance (December 11, 2019)
  • “Women Lawyers in Blockchain,” Celo (September 19, 2019)
  • “Staying compliant in this complex and changing regulatory environment,” ACI’s Women Leaders in Financial Law and Compliance Conference (September 18, 2019)
  • “Fintech: Friend or foe? Collaboration and Regulation in Emerging Tech,” at the FIBA AML Compliance Conference in Miami (March 13, 2019)
  • “Sports Betting: Rewards and Risks, Compliance Panel,” O’Melveny/EY Panel (January 31, 2019)
  • “Virtual Currency Panel,” Mid-Atlantic Anti-Money Laundering Conference (July 2018)
  • Fintech/BSA/Sanctions, International Bankers Ass’n of California (December 4, 2018)
  • “The Latest Updates on Financial Crime and Risk Issues Facing the Gaming Industry,” International Association of Gaming Advisors Webinar (October 17, 2018)
  • “Safe Bets: How the Supreme Court’s Sports Gambling Decision Affects AML Nationwide,” 2018 ACAMS AML and Financial Crimes Conference (October 3, 2018)
  • Cyber and Fintech Developments in BSA/AML/OFAC, 2018 Mid-Atlantic Anti-Money Laundering Conference (July 24, 2018)
  • “Exploring the New Frontier of Cryptocurrency & Blockchain,” Investor Rights Committee of the DC Bar Corporation, Finance and Securities Law Community (June 6, 2018)
  • “Whistleblowers vs. Leakers,” Federal Bar Association: Current Issues in Government Investigations Conference (April 2018)

Events

Alerts and Publications

New Strings Attached? SBA Requires PPP Recipients to Re-Prove Need for $2 Million+ Loans

November 4, 2020

The Recorder: BitMEX Indictment Warns of New Department of Justice Approach on AML Program Failures

November 3, 2020

DOJ Stakes a Claim in Cryptocurrency Enforcement with Publication of Broad New Framework

October 26, 2020

Treasury Issues New Guidance on Risks of Ransomware Payments

October 9, 2020

FinCEN Issues New Anti-Money Laundering Red Flags to Stem Increased Threat of COVID Cybercrime

August 3, 2020

Fraud Intelligence: Pandemic Predators – Covid-19 Fraud Schemes

July 30, 2020

Mainstreaming Digital Asset Custody? OCC Greenlights Digital Asset Custody Services for Crypto Assets

July 23, 2020

AML Compliance After the Blockchain Twitter Hack: How “SAR” Down the Rabbit Hole to Go?

July 17, 2020

PPP Loan Forgiveness: The SBA’s Application Form Includes New Guidance and Details

May 20, 2020

DOJ Reviewing PPP Loan Applications for Criminal Fraud, Finding “Red Flags”

May 4, 2020

Main Street Lending Program Expands Eligibility and Terms

April 30, 2020

US$484 Billion in New Funds for CARES Act Small Business Loans and Health Care Programs

April 24, 2020

SBA’s Paycheck Protection Program and Economic Injury Disaster Loan Program

April 14, 2020

Door Opens to Non-Traditional SBA Lenders’ Participation in SBA’s Paycheck Protection Program

April 9, 2020

Federal Reserve Announces Two Main Street Lending Programs as Part of Stimulus Efforts

April 9, 2020

California Department of Business Oversight Sues One of the Nation’s Largest Student Loan Servicers

April 7, 2020

CARES Act Enforcement Risks

April 7, 2020

CARES Act: Direct Loans to Non-Investment Grade Businesses and Federal Reserve Liquidity Facilities

April 3, 2020

COVID-19: Unemployment Assistance for Gig Workers and Independent Contractors

March 31, 2020

COVID-19: Stimulus to Provide Unprecedented Government Assistance to US Businesses

March 30, 2020

SBA Affiliation Rules: Funding for Venture-Backed Companies under the CARES Act

March 29, 2020

Individual Liability: FinCEN Issues Personal Penalty to Former Chief Compliance Officer

March 16, 2020

CFPB Proposes New Whistleblower Award Program

March 13, 2020

Heads Up: AML and Economic Sanctions Moves the Crypto Industry Should Watch for From Regulators in 2020

February 25, 2020

What’s Next in Data Security and Privacy? 6 Trends to Watch in 2020

January 21, 2020

California Announces Revamp of Consumer Protection Regime in Place of Sidelined CFPB

January 17, 2020

DOJ Eases Requirements in Corporate Enforcement Policy Update

November 26, 2019

DOJ Lifts the Curtain on Evaluating Claims of “Inability to Pay”

October 16, 2019

Token Alliance Releases 2019 Edition of Best Practices Guide For Digital Tokens – AML Guidelines: O’Melveny Lawyers Serve As Expert Contributors

September 12, 2019

FinCEN SPEAKS CRYPTO: Extensive New Guidance for ICOs, Digital Wallets, DApps, Trading Platforms, Decentralized Exchanges, and others in the Blockchain and Crypto Space

May 16, 2019

DOJ Issues Expanded Guidance for Prosecutors in Evaluating Corporate Compliance Programs

May 6, 2019

FinCEN Lays Down a New Marker in Cryptocurrency Anti-Money Laundering Enforcement

April 26, 2019

Federal Sports Betting Proposals: The Sports Wagering Market Integrity Act of 2018

February 13, 2019

O’Melveny’s Fintech Group: Quick Facts

January 26, 2019

Expanded CFPB Sandbox Promises Greater Protections for Fintech and Other Financial Services Companies

January 4, 2019

DOJ Eases Requirements for Cooperation Credit in Corporate Prosecutions

December 6, 2018

Federal Regulators Issue Joint Statement Encouraging Banks to Use Innovative Technologies to Combat Money Laundering and Terrorist Financing

December 5, 2018

In the News

Press Releases