Overview
An experienced first-chair trial lawyer, Ashwin J. Ram has 18 years of experience representing corporate and individual clients in criminal, civil, and regulatory matters. This includes a broad range of investigations, white-collar criminal cases, securities litigation, class actions, state and federal False Claims Act litigation, insurance and reinsurance disputes, and civil rights claims. Ashwin also advises clients on matters involving corporate governance and regulatory compliance. He has also briefed and successfully argued numerous cases to state and federal appellate courts, including the US Court of Appeals for the Ninth Circuit.
Prior to joining Steptoe, Ashwin spent more than seven years as a federal prosecutor, including as an assistant US attorney in the Major Frauds Section of the US Attorney's Office in Los Angeles (DOJ). As a federal prosecutor, Ashwin handled numerous high-profile investigations, including one of the largest health care fraud prosecutions in California history ("Operation Spinal Cap"). Ashwin also investigated and prosecuted money laundering, bribery, kickbacks, insider trading, and investment fraud, as well as purported violations of the mail, wire, bank, and tax fraud statutes.
A well-respected white-collar defense lawyer, Ashwin has extensive experience in all aspects of federal criminal practice, from investigations through trial, sentencing, and appeal. As a defense attorney and former federal prosecutor, Ashwin has handled approximately two dozen trials and negotiated and successfully resolved more than 100 criminal matters involving cumulative alleged losses exceeding $2 billion. In the process, Ashwin has developed intimate knowledge of the inner workings of investigations and prosecutions relevant to corporate and individual clients.
Ashwin's strength in the courtroom and strategic approach have also led to successful outcomes for clients in commercial disputes. He has handled putative class actions, with many of these matters dismissed on the pleadings, denied at the certification stage, or resolved on summary judgment. Ashwin has also leveraged his experience as a federal prosecutor investigating securities fraud allegations to develop a securities litigation practice. He has also successfully represented corporate and individual clients in arbitrations and qui tam lawsuits. These commercial disputes have involved countless statutory, contractual, and tort-based claims in state and federal courts. Proactively managing these representations, Ashwin has successfully advanced positions for clients in diverse contexts ranging from stock offerings to asset purchase agreements and restrictive covenants to insurance coverage matters and directors and officers liability issues.
Demonstrating his simultaneously broad and deep subject matter experience in criminal and civil matters – and the intersection of the two practice areas – Ashwin has written and spoken extensively on relevant matters affecting corporate and individual clients. On behalf of corporate clients, Ashwin spearheads assessments and investigations of corporate culture, harassment, and discrimination issues.
Recent representations in the last three years include:
- Successfully resolved a Financial Industry Regulatory Authority (FINRA) inquiry involving the CEO of a publicly-traded bitcoin mining company with no further action taken by FINRA after the presentation of our investigative findings.
- Obtained the complete dismissal of all pending criminal charges against a logistics and trucking company owner in Dupage County, Illinois after conducting a three-month investigation, including a forensic accounting analysis, of the company and the alleged fraud. Client was criminally charged with felony fraud offenses arising out of the complaint of a former business partner; after conducting the investigation and presenting findings to supervisors at the relevant state’s attorney’s office in Illinois, all charges pending against client were dismissed with the government expressing interest in pursuing charges against the former business partner who falsely alleged fraud.
- Represented family of a hate crime victim in Riverside, California, after presiding judge dismissed hate crime charge against one of the defendant murderers. Advocated for the prosecution to file a writ to challenge the dismissal of the hate crime charge, which was ultimately filed and led to the successful reinstatement of the hate crime charge.
- Successfully resolved two novel qui tam actions simultaneously pursued by State Farm and Allstate under the California Insurance Frauds Prevention Act against a prominent Southern California pain management practice, surgery center, and physician.
- Over the course of a three-week federal criminal trial, successfully defended scientist and former university lab director charged with approximately 20 counts of conspiracy, bank fraud, wire fraud, and theft/bribery concerning programs receiving federal funds (18 U.S.C. § 666) with purported losses exceeding $6 million. Client was not convicted on any count.
- Obtained a split verdict in a two-week federal health care fraud trial in the Eastern District of New York.
- Successfully represented health care provider group and surgery centers in qui tam lawsuit brought under the California Insurance Frauds Prevention Act (IFPA) with alleged damages exceeding $20 million.
- Successfully defended energy company former CFO in a sprawling political corruption and bribery investigation involving parallel civil and criminal RICO allegations with alleged losses exceeding $150 million.
- Represented motor vehicle company in US DOJ and SEC investigations of the company's revenue recognition and sales practices. Obtained declinations from DOJ and SEC even after corporate search warrants were executed.
- Favorably resolved multi-defendant state attorney general price gouging investigation challenging fuel retailer pricing.
- Ongoing representation of tobacco distribution company executive in California Attorney General investigation involving tax revenue collection.
- Ongoing representation of high-profile extractives industry company and executives in parallel criminal Grand Jury, civil securities class action, and Congressional inquiry.
- Ongoing criminal RICO defense of novel criminal prosecution involving an encrypted phone company and its CEO involving over $100 million in alleged criminal proceeds.
- Ongoing appellate representation of high-profile venture capitalist and political fundraiser convicted of tax fraud, Foreign Agents Registration Act (FARA) and Federal Election Campaign Act (FECA) violations.
- Trial representation of Los Angeles businessman and angel investor in the first and largest criminal trial involving COVID stimulus funds (PPP and EIDL).
- Obtained the dismissal of a putative class action asserting violations of the Telephone Consumer Protection Act (TCPA).
- California
- Illinois
- New York
- District of Columbia
- US District Court, Central District of California
- US District Court, Eastern District of California
- US District Court, Northern District of California
- US District Court, Southern District of California
- US District Court, Northern District of Illinois
- US District Court, Eastern District of New York
- US District Court, Western District of Oklahoma
- US Court of Appeals, Ninth Circuit
- US Supreme Court
- J.D., University of Kansas School of Law, 2005, magna cum laude
- B.A., Miami University, 2002, magna cum laude
Areas of Work
Representative Matters
White-Collar Matters
- Lead counsel in investigation resolving a Financial Industry Regulatory Authority (FINRA) inquiry involving the CEO of a publicly-traded bitcoin mining company with no further action taken by FINRA after the presentation of our investigative findings.
- Over the course of a three-week federal criminal trial, successfully defended scientist and former university lab director in a three-week federal criminal trial, against charges of approximately 20 counts of conspiracy, bank fraud, wire fraud, and theft/bribery concerning programs receiving federal funds with alleged losses exceeding $6 million
- Represented as lead counsel a Los Angeles businessman and angel investor defending against the prosecution of an alleged $20 million fraudulent loan scheme involving funds obtained through the PPP and EDIL loan programs. Ashwin was lead counsel in the two-week criminal jury trial in the Central District of California– one of the largest and first COVID stimulus cases to go to trial in the country – and related forfeiture proceedings separately tried to the jury. As a result of Ashwin's representation, his client was acquitted of all post-release money laundering charges and secured a rare Kastigar hearing allowing an attack on all counts of conviction.
- Represented as lead counsel CEO and chemical manufacturer in an investigation conducted by the EPA-OIG and US Attorney's Offices on both the East and West Coasts.
- Represented former Uber executive in investigation conducted by the US Attorney's Office for the Northern District of California, resulting in no charges being filed against the client.
- Represented energy company executive in investigation and prosecution of alleged political bribery scheme in the Northern District of Illinois with purported losses exceeding $150 million. Obtained plea disposition obligating the US Attorney's Office to affirmatively recommend no custodial sentence.
- Represented as lead counsel prominent Southern California health care provider group that was a victim of former CFO's extortion plot. Successfully referred extortion plot to the FBI/US Attorney's Office for the Central District of California, which pursued covert recording operation and subsequent extortion prosecution of former CFO.
- Represented as co-lead counsel fuel retailer in state attorney general price gouging investigation involving multiple fuel retailers operating in the Western United States. Developed a proposed resolution framework stemming from the preparation of an exhaustive "white paper" on price gouging regulations, which led to resolution featuring nominal settlement payments with prophylactic compliance measures.
- Lead appellate counsel defending high-profile venture capitalist and political fundraiser in the US Court of Appeals for the Ninth Circuit related to tax fraud, Foreign Agents Registration Act (FARA), and Federal Election Campaign Act (FECA) convictions, as well as restitution and penalty payments exceeding $20 million.
- Representing, as co-lead counsel, mining company in cross-border investigation conducted by the US Attorney’s Office for the District of Alaska. Ashwin also represents the client in a parallel SEC enforcement proceeding in San Francisco and putative securities class action litigation in the Eastern District of New York.
- Lead counsel defending CEO and company charged with RICO and money laundering offenses stemming from the sale of encrypted phones with revenues allegedly exceeding $100 million.
Commercial Disputes
- Lead counsel in successfully resolving two novel qui tam actions simultaneously pursued by State Farm and Allstate under the California Insurance Frauds Prevention Act against a prominent Southern California pain management practice, surgery center, and physician.
- Represented, as lead counsel, a US Congressional campaign committee in AAA arbitration involving various breach of contract allegations asserted against client. All claims against the client were dismissed on the eve of arbitration with no payment from client.
- Represented as lead counsel a cannabis company facing a putative class action asserting violations of the Telephone Consumer Protection Act (TCPA). After Ashwin filed a motion to dismiss and several rounds of negotiation, the case was dismissed following a nominal settlement payment by the client.
- Represented former energy company executive in civil RICO putative class action filed in parallel to criminal investigation of alleged political bribery scheme in the Northern District of Illinois with purported losses in excess of $150 million. All civil RICO claims against client were dismissed following a case consolidation.
- Represented as lead counsel a prominent model manager in a talent-raiding dispute between two global modeling agencies in federal and state court. Ashwin sought declaratory relief and successfully obtained a temporary restraining order (TRO) seeking to enjoin a global model-management agency from enforcing a non-compete agreement. The case favorably resolved shortly after the TRO was issued.
- Represented as lead counsel a cannabis executive who was extorted by a former business partner. Successfully obtained a temporary restraining order (TRO) against the extorting business partner and an eventual judgment in favor of the client.
- Represented insurance clients in approximately one dozen cases involving COVID-19 related claims for business interruption insurance coverage in state and federal courts. Secured dismissal or summary judgment in nearly all of these COVID-related insurance cases.
- Led investigation of regional bank on behalf of health care executive client who suffered substantial account losses as the result of systemic unauthorized account transfers conducted by a money manager previously affiliated with the bank. As a result of Ashwin's investigation and negotiation, he was able to recover approximately 150% of the client's losses.
- Represented insurance client in multi-million-dollar Builder's Risk insurance coverage dispute and obtained favorable pre-trial settlement.
- Co-represented and obtained dismissal of complaint against former officer of popular sports brand in case involving alleged accounting misstatements related to audit letter.
- Successfully represented health care provider group and surgery centers in qui tam lawsuit brought under the California Insurance Frauds Prevention Act (IFPA) with alleged damages exceeding $20 million
- Successfully resolved complex insurance coverage dispute involving alleged damages exceeding $100 million.
Speaking Engagements
- "Unprecedented Crimes: Defending and Prosecuting CARES Act Fraud Cases," LACBA Criminal Justice Section, April 13, 2021
- "Impact of COVID-19 on Physician Practices," AAPI CME Webinar, Winter Medical Conference, February 20, 2021.
- "Health Care Law for Physician Practices," AAPI 7th Annual Winter Medical Conference, Las Vegas, February 2020.
News & Publications
Publications
How DC Federal Court Ruling Limits Wire Fraud Act Scope
March 8, 2022
By: Ashwin J. Ram, Galen Kast
Client Alerts
February 3, 2022
Publications
360: Year 1 of the Biden Administration: Policy Priorities & Highlights
The Legal Navigator
February 2022
By: Ashwin J. Ram
Steptoe Investigations & Enforcement Blog
Client Advisory: DOJ Announces Key Policy Changes Aimed at Expanding Corporate Criminal Enforcement
November 2, 2021
Client Alerts
DOJ Announces Key Policy Changes Aimed at Expanding Corporate Criminal Enforcement
November 2, 2021
By: Ashwin J. Ram, Patrick F. Linehan, Caroline A. Covington
Publications
Defense Against Price Gouging Allegations Amid Falling Prices
Bloomberg Law
March 11, 2021
Events
Webinars
Bridgegate and Beyond: Appellate Update for the White Collar Practitioner
March 16, 2021
Speakers: Ashwin J. Ram, L. Ashley Aull (Chief, Appellate Section, United States Attorney's Office, Central District of California), Koren Bell (Partner, Larson LLP), Vicki Chou (Partner, Hueston Hennigan LLP)
On Demand
Lender Beware: Mitigating Risks in Lending Stimulus Funds to Small Businesses
May 6, 2020
Speakers: Michael Campion Miller, Stacie R. Hartman, Leah M. Quadrino, Ashwin J. Ram, Jeremy B. Glen
On Demand
Borrower Beware: Risks Associated with Accessing COVID-19 Relief Funds
April 14, 2020
Speakers: Michael Campion Miller, Leah M. Quadrino, Ashwin J. Ram, Jeremy B. Glen, Caitlin Conroy, Jason Meade
Noteworthy
- Los Angeles Business Journal, "Minority Leaders of Influence: Attorneys" (2021)
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Assistant Inspector General Excellence Award
Previous Employment
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Office of United States Attorney, Criminal Division (2012-2019)
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General Counsel, uSplash (2011-2012)
Professional Affiliations
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Member, Asian Pacific American Bar Association
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Past President, South Asian Bar Association
- Past President and Former Chief Legal Officer, Network of Indian Professionals of North America