Terence M. Grugan


Tel 215.864.8320
Fax 215.864.8999

Terence M. Grugan is a member of the firm's White Collar Defense/Internal Investigations, Securities Enforcement and Corporate Governance Litigation, and Anti-Money Laundering Practice Groups. In his white collar practice, Terence represents individuals and entities who are targets, subjects, or witnesses in criminal, regulatory, or administrative government investigations, including investigations conducted by the Department of Justice, Internal Revenue Service, Securities and Exchange Commission, state attorneys general, local, state, or federal inspectors general, and local law enforcement. He has defended clients from the preliminary stages of an investigation through trial in state and federal courts. Terence has also represented clients in federal habeas proceedings and civil rights actions.

In addition, he has extensive experience conducting internal investigations for large and small entities, including investigations involving allegations of fraudulent business practices, campaign finance improprieties, tax fraud, government contracting fraud, and others.

Terence also represents financial institutions clients in matters implicating their practice under the Bank Secrecy Act (BSA) and related Anti-Money Laundering (AML) laws, including compliance program advice, internal investigations, regulatory examinations, and related civil litigation. Terence has represented national banks in civil litigation relating to account holders engaged in Ponzi, securities fraud and consumer fraud schemes. He has also conducted due diligence on entities’ compliance with applicable BSA and AML laws.

Terence also maintains an extensive securities enforcement and corporate governance litigation practice, representing institutional clients in complex contract disputes, shareholders disputes, internal corporate governance disputes, and professional liability matters in state and federal courts. He has also represented institutional clients in actions arising under the securities laws and involving fraud and breaches of fiduciary duties in arbitrations before FINRA and JAMS arbitration panels.

Prior to joining Ballard Spahr, Terence worked as a Special Investigator with the Philadelphia Office of the Inspector General. As a Special Investigator, he conducted criminal and administrative investigations into fraud and corruption in Philadelphia city government, including investigations into prescription drug fraud involving city health clinics, abuses in city property dispositions, government benefit fraud, and government contracting fraud.

Representative Matters

White Collar Defense/Internal Investigations

  • Represented the former mayor of Harrisburg, Pennsylvania, in a Pennsylvania Office of the Attorney General prosecution involving multiple counts of theft and corruption-related offenses
  • Represented a former judge of the Philadelphia Traffic Court in a prosecution involving multiple counts under the federal mail and wire fraud statutes relating to an alleged ticket fixing scheme. The client was acquitted of all charges following a two-month trial in federal court in Philadelphia.
  • Represented an individual accused of involvement in a scheme to submit false claims to the federal government
  • Represented a company subject to investigation by the Pennsylvania Inspector General for fraud involving the use of disadvantaged business entities in execution of government contract
  • Represented a charter school in a Pennsylvania Inspector General investigation
  • Represented witnesses in federal grand jury investigations
  • Represented witnesses in a NASA inspector general investigation

Securities Enforcement and Corporate Governance Litigation

  • Represented a large investment firm in a three-week FINRA arbitration involving claims of unsuitable investments and professional negligence
  • Represented a placement agent in a securities fraud suit in California Superior Court
  • Represented a major national corporation in an antitrust class action suit in federal court in the District of New Jersey
  • Represented individual under investigation for insider trading by the Securities Exchange Commission in the Eastern District of Pennsylvania
  • Represented individual under investigation for insider trading by United States Attorney’s Office for the Southern district of New York.

Anti-Money Laundering

  • Represented financial institution in civil litigation arising from account-holders’ fraud schemes
  • Represented buyer conducting BSA due diligence in connection with potential business acquisition
  • Represented potential operator of cryptocurrency exchange examining compliance with BSA and New York State regulations

Pro Bono

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

Judicial clerk, 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


Co-author, "U.S. Passes Historic BSA/AML Legislative Change," Money Laundering Watch blog, January 5, 2021

Co-author, "New Stimulus Deal: Overview of Major Provisions Impacting Businesses and Individuals," Ballard Spahr alert, December 22, 2020

Interview, "Ballard Spahr Lawyer Talks Tracking COVID-19 Stimulus Fraud (Literally)," Commercial Observer, August 17, 2020

Co-author, "Stimulus Fraud Part 4: CARES Act Oversight Provisions and Agency Collaboration," The Legal Intelligencer, July 8, 2020

Co-author, "The Intersection of Money Laundering and Real Estate," 2020 Guide on AML by the International Comparative Legal Guides, May 2020

Interview, "Legal Challenges Your Paycheck Protection Program Clients Could Face," Banking Mid Atlantic, May 5, 2020

Co-author, "$2.2T COVID-19 Stimulus Package and Fraud: Part 2, TARP’s Role," The Legal Intelligencer, May 4, 2020

Co-author, "Watch Out for Fraud Tied to $2.2T COVID-19 Stimulus Package: Part I," The Legal Intelligencer, April 23, 2020

Co-author, "Financial Action Task Force Update: Statement on COVID-19’s Implications for AML Programs," Ballard Spahr alert, April 10, 2020

Co-author, "Money Laundering Watch: 2019 Year in Review," Ballard Spahr alert, January 8, 2020

Co-author, "First Step Act of 2018 Aims to Reform Sentencing Laws," The Legal Intelligencer, February 4, 2019

Co-author, "Money Laundering Watch: 2018 Year in Review," Ballard Spahr alert, January 2, 2019

Co-author, "What's Next after the SEC 'Insider Trading' Breach?" Dark Reading, October 19, 2017

"Yates and Curbing Prosecutorial Overreach," The Legal Intelligencer, May 5, 2015

Co-author, "New York AG Takes Proactive Approach to Regulation of Nonprofits," Ballard Spahr alert, April 15, 2015

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

New Leash on Life USA

Temple University James E. Beasley School of Law (J.D., cum laude, 2009)
Member, Temple Law Review

La Salle University (B.A. 2003)