David Stier
PartnerDavid is a litigator, trial attorney, and strategic advisor leading global compliance and advisory matters and investigations involving anti-money laundering (AML), anti-fraud, anti-corruption, sanctions and export controls, and securities laws and regulatory issues. He counsels clients in highly regulated industries, including financial institutions and financial services and advisory companies, digital asset and blockchain-based companies, chemicals and precious metals companies, and others.
With more than twenty years of experience in both government and private practice, David has a proven record of successfully leading teams through complex investigations, litigations, and prosecutions, including navigating historic challenges in the aftermath of the 2008-2009 global financial crisis, and through the global COVID-19 pandemic. As a skilled strategic advisor, David assists clients in the design, implementation, and improvement of thoughtful, risk-based compliance controls designed to avoid, or mitigate the impact of, costly litigation and investigations. David also maintains a robust pro bono practice that includes representing clients in immigration and asylum proceedings.
Prior to joining DLA Piper, David served in various government positions, including at the U.S. Department of Justice (DOJ) and the U.S. Treasury Department.
During his time at the DOJ, David was a prosecutor in the Money Laundering and Asset Recovery Section's (MLARS) Bank Integrity Unit and the DOJ Fraud Section's Market Integrity and Major Frauds Unit where he investigated and prosecuted individuals and corporations in connection with complex white collar matters, including financial fraud, securities fraud, investment fraud, accounting fraud, bank fraud, insider trading, Bank Secrecy Alert (BSA) and Foreign Corrupt Practices Act (FCPA) violations, and money laundering. David was also a member of an interagency law enforcement group providing guidance to the Treasury Department and the Financial Action Task Force (FATF) on emerging anti-money laundering regulatory issues.
While at the U.S. Treasury Department, David served in senior roles as an investigator and compliance advisor for the Office of Financial Stability, and as the Assistant Chief Investigative Counsel and in other roles for Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP). David led nation-wide investigations involving complex securities fraud, bank fraud, government program fraud, and misuse of government trademarks and seals, and liaised with U.S. Attorney's Offices, the Securities and Exchange Commission, the Federal Trade Commission, and financial regulators throughout the country. David further created and administered compliance and audit review policies and procedures for Treasury Department financial agents, including those involved in mortgage-backed securities trading and housing finance.
David is an active member of the American Bar Association and serves on the ABA's Banking Law Committee as the Vice Chair for the Bank Secrecy Act and Anti-Money Laundering subcommittee. He is also a member of DLA Piper's Corporate Transparency Act Working Group helping advise the firm and its clients on the implementation of the historic AML legislation involving the creation of a beneficial ownership database.
EXPERIENCE
- Advising multinational energy, chemicals, precious metals, and financial services companies on global anti-money laundering, countering the financing of terrorism, sanctions, financial crimes, anti-fraud, and other compliance policies and procedures, and conducting compliance reviews and internal compliance inquiries and investigations.
- Leading complex investigations and litigations involving the DOJ, Treasury's Office of Foreign Asset Control (OFAC), the Securities and Exchange Commission (SEC), the Department of Homeland Security - Homeland Security Investigations (HSI), the Department of Commerce – Bureau of Industry and Security (BIS), the Federal Trade Commission (FTC), and various state and county law enforcement entities with respect to money laundering, sanctions violations, fraud, identity theft, and other allegations.
- Creating law enforcement contact, i.e., "Dawn Raid," policies and procedures and trainings and leading trainings.
- Evaluating, developing, and implementing best practice policies and procedures for various companies in connection with the receipt of legal process and data preservation and collection, including the use of ephemeral messaging applications.
- Guiding technology companies such as blockchain start-ups, stablecoin issuers, decentralized physical infrastructure networks, decentralized exchanges, and others in connection with sanctions, anti-fraud, and AML compliance controls and counter-party risk.
- J.D., University of Pennsylvania Law School
summa cum laude
Certificate in Business and Public Policy - the Wharton School - B.A., Psychology, University of Pennsylvania
summa cum laude, with distinction
AWARDS
The Legal 500 United States
- Recommended, Corporate Investigations and White-Collar Criminal Defense: Advice to Corporates (2024)
- Recommended, Corporate Investigations and White-Collar Criminal Defense: Advice to Individuals (2024)
Additional Awards
- US Attorney's Office (D. Del) Award for outstanding performance in the investigation and prosecution of a financial institution fraud case (2019)
- FBI Director's commendation certificate for outstanding assistance in a joint investigative effort (2019)
- Council of the Inspectors General on Integrity and Efficiency (CIGIE) award of Excellence for Outstanding Investigation of a Failed TARP Financial Institution (2019)
- US Attorney's Office (D. Del) Award for outstanding service in the investigation and prosecution of a financial institution fraud case (2017)
- Treasury (SIGTARP) Award of Distinction for outstanding professionalism and teamwork in the successful investigation of accounting fraud at a TARP Bank (2015)
- Treasury (SIGTARP) Award of Distinction for outstanding efforts in investigating the Public Private Investment Partnership (PPIP) program fraud (2014)
Seminars and Publications
- Co-author, Anti-Money Laundering and Bank Secrecy Act chapter of Banking [on] Blockchain: A Legal and Regulatory Primer, a comprehensive guide that explores the legal and regulatory landscape surrounding blockchain technology, decentralization, and digital assets within the financial services industry (June 2024 – American Bar Association)
- Panelist, “Cryptocurrency & Illicit Finance: Risk Mitigation Strategies “American Bar Association, Business Law Section Spring Meeting – Orlando, Florida, April 5, 2024.
- Guest Lecturer, "Anti-Money Laundering and SEC-Regulated Broker-Dealers," Northeastern University Law School, Boston, Massachusetts, February 8, 2024
- Panelist, "BSA, AML & Sanctions Trends," American Bar Association Banking Law Committee Winter Meeting – Washington, D.C., January 19, 2024
- Panelist, "Crisis Management," DLA Piper LLP - Beyond the Curve – Washington, D.C., January 8, 2024
- Panelist, "The U.S. Corporate Transparency Act – Ensuring Compliance," Mercator by Citco Webinar, Washington, D.C., November 16, 2023
- Moderator, "Corruption and Corporate Crime Across the Americas – AML Focus," DLA Piper LLP, Washington, D.C., May 22, 2023
- Panelist, "Anti-Money Laundering & the Art Market," Art Law Conference 2023 – New York, New York, April 27, 2023
Prior Experience
- Successfully led teams, including at key stages of high-profile cases, defending investigations against legal challenges and skillfully assessing, negotiating through, and litigating complicated discovery and other issues, including during trial. David also served as the Justice Department’s Money Laundering and Asset Recovery Section’s (MLARS) criminal discovery coordinator, liaising with Criminal Division leadership, and providing guidance to the Section’s more than 40 prosecutors.
- Supervised compliance with a corporate resolution between the Justice Department and multi-national financial institution involving BSA and foreign bribery-related violations.
- Served as SIGTARP’s Assistant Chief Investigative Counsel helping to develop and execute the agency’s strategy for combatting TARP fraud, managing investigative teams, and coordinating with law enforcement and financial regulators nationwide.
- Testified in and prepared an analysis of financial records for a federal wire fraud trial under Federal Rule of Evidence 1006.
- Co-founded and managed a proactive intellectual property enforcement Initiative and led office-wide change in related investigations.
- Law clerk to the Honorable John M. Walker, Jr., Chief Judge for the US Court of Appeals for the Second Circuit (2003-2004 term).
Additional Certifications
- Berkeley (edX) Computer Science Course Professional Certificates in Bitcoin and Cryptocurrencies and Blockchain Technology (December 2022)
- Cornell University (eCornell) certificate in Executive Leadership (March 2016)
Memberships and Affiliations
- Vice Chair, American Bar Association – Banking Law Committee: Bank Secrecy Act and Anti-Money Laundering Subcommittee
