Terence M. Grugan is an experienced litigator, investigator and trial attorney. Terence represents clients in criminal and administrative investigations and trials conducted by the Department of Justice, Department of the Treasury, Securities Exchange Commission and states Attorneys General. As the Co-Leader of Ballard’s Anti-Money Laundering practice team, Terence counsels financial institutions on Anti-Money Laundering compliance and represents financial institutions in litigation and investigations arising under the Bank Secrecy Act and advises financial institutions on emerging trends including cryptocurrency regulation. Terence also maintains an active corporate litigation practice, representing individual and institutional clients in court actions and arbitrations involving shareholder and corporate governance disputes.
Terence also regularly represents pro bono clients challenging their convictions through post-conviction habeas proceedings and in civil rights actions. Terence is also a member of the Executive Committee of the Federal Criminal Law Committee for the Eastern District of Pennsylvania, a non-profit bar association dedicated to facilitating the fair and effective administration of criminal justice through advocacy and education.
Experience
Representative Matters
Anti-Money Laundering
- Successfully defended large national bank in complex civil litigations alleging fraud and BSA/AML policy violations in connection with account-holders’ Ponzi and consumer fraud schemes
- Advised national retailer on BSA/AML compliance in connection with credit program
- Represented buyer conducting BSA due diligence in connection with potential business acquisition
White Collar Defense/Internal Investigations
- Represented labor leader in seven-week Honest Services Fraud trial in United States v. Dougherty, Case No. 19-cr-064 (E.D. Pa.)
- Conducted internal investigation of circulation of derogatory “challenge” coin among officers of the Phoenix Police Department
- Conducted internal investigation of efforts of Phoenix Police Department and Maricopa County prosecutors to employ criminal gang statute against political protestors
Securities Enforcement and Corporate Governance Litigation
- Successfully represented hedge fund in five-week AAA arbitration brought to recover $26 million investment
- Successfully represented a large investment firm in a three-week FINRA arbitration involving claims of unsuitable investments and professional negligence
- Represented officers and directors in Delaware Chancery proceedings alleging breach of fiduciary duties
Additional Representative Matters
- Represents borrower in appeal of SBA denial of Paycheck Protection Program loan forgiveness application and federal court challenge to SBA application of exclusionary rules to PPP applicants
- Successfully represented Delaware County, Pennsylvania in multiple lawsuits in state and federal court alleging voting and election irregularities in the 2020 Presidential election
- Successfully represented a national charter school management company in a lawsuit seeking remittance of unpaid fees
Professional Highlights
Pro Bono Experience
Terence has performed extensive pro bono work. He is the co-founder of the Ballard Academy for Student Entrepreneurs (BASE), a nationally-recognized student-based accelerator. Terence has also represented clients in landlord-tenant disputes in Pennsylvania state court and before Philadelphia arbitration panels. He also regularly accepts appointments to represent criminal defendants in federal court in the Eastern District of Pennsylvania through the CJA Panel. Finally, he is a member of the board of directors of New Leash on Life USA, a Philadelphia prison dog-training and prisoner re-entry organization.
Judicial Clerkships
Hon. Timothy J. Savage, U.S. District Court for the Eastern District of Pennsylvania
Professional Activities
National Association of Criminal Defense Lawyers
Temple American Inn of Court
Philadelphia Chamber of Commerce Young Professionals Network
Philadelphia Bar Association
Recognition & Accomplishments
"40 Under 40," Philadelphia Business Journal, 2021
Speaking Engagements
Speaker, "Future of BSA: Legislative Proposals, Regulatory Developments, and PPP Lending webinar," Credit Union National Association, November 23, 2020
Speaker, "Trends in Financial Litigation," Pennsylvania Department of Banking and Securities Meeting, Harrisburg, PA, September 18, 2019
Speaker, "Anti-Money Laundering and the Securities Industry," North American Securities Administration Association, September 12, 2018
Board Memberships & Community Service
New Leash on Life USA
Related Insights
![Publications]()
![Podcast]()
How Will the Anti-Money Laundering Act of 2020 (AMLA) and the Corporate Transparency Act (CTA) Impact Banks’ Anti-Money Laundering (AML) Compliance Under the Bank Secrecy Act (BSA)? A Discussion with Special Guest Matt Haslinger Chief BSA/AML/OFAC Officer, M&T Bank
![Legal Alert]()
Beneficial Ownership Reporting is Coming for Millions of Companies
![Firm News]()
Banks Face Growing Regulatory Scrutiny Over Russia Export Control Violations
Credentials
Education
Temple University James E. Beasley School of Law (J.D., cum laude, 2009)
Member, Temple Law Review
La Salle University (B.A. 2003)
Admissions
Pennsylvania