Teresa and Joe Giudice, famous for their roles on the Real Housewives of New Jersey, have entered guilty pleas in their federal bank fraud case. Media outlets are reporting that Teresa faces 21 to 27 months and Joe is facing 37 to 46 months.
The plea agreement reached is not one with a sentence specified. In reality, the sentencing range is a suggested sentence under the guidelines; the court is free to sentence them up to the maximum of 50 years. Of course, it is highly unlikely that either Joe or Teresa would be sentenced to 50 years. My prediction is that Teresa gets probation and Joe gets two to three years.
* Dewey know who Zachary Warren is? Per this failed firm’s insiders, he seems to be a “man of mystery” who apparently worked in the “bowels of the bureaucracy” that ultimately led to D&L’s demise. [Am Law Daily]
* “You can cross-examine the witness. You can’t cross examine an email.” Defense of the Dewey defendants may be tough when it’s time for trial — and you can bet your ass there’ll be a trial. [New York Law Journal]
* Fear not, friends, because Patton Boggs has found a way to weather the storm. It’s the same way most barely buoyant firms stay afloat: more layoffs. Expect more on this news later today. [National Law Journal]
* Paul Ceglia, the man who claims he owns half of Facebook’s fortunes, can’t toss his criminal charges. Sometimes wheeling and dealing with allegedly faux contracts will land you in the clink. [Bloomberg]
* Because no father wants to see his daughter become “tabloid fodder”: Rachel Canning, the New Jersey schoolgirl who sued her parents, is being “savaged” by the public. Aww, poor little Millennial. [Daily Record]
I’ve represented a decent number of people who have been accused of fraud.
Some folks who are accused of fraud are really truly unambiguously guilty. They were presented with an open cookie jar, they thought no one was looking, and they took a cookie (metaphorically). They were presented with a morality test and they just didn’t pass.
Like Glenn Frey teaches us in Smuggler’s Blues, “It’s the lure of easy money; it’s got a very strong appeal.”
Other cases have a lot more nuance.
Most federal prosecutors, I find, tend to see cases as not terribly nuanced. They tend to think that each case is a morality test. Once you get the facts figured out, for the typical AUSA, the moral judgments follow pretty quickly.
My sense, though, is that the world is almost always less clear and clean, even when you have all the facts.
With that background, I read with interest James Surowiecki’s piece — “Do the Hustle” — in the New Yorker a few weeks ago about America and its con men. (And, yeah, I know, it was a few weeks ago. You finish the New Yorker right when it comes out? I didn’t think so.).
There were things that I did in Ecuador in the foreign legal system that were I felt appropriate for the foreign legal system based on what I observed as an American lawyer. And there are things down there that, no, would not be appropriate here.
* Biglaw’s billing bonanza: at least 12 firms are advising on the multi-billion dollar deals going on between Microsoft / Nokia and Verizon / Vodafone, and Simpson Thacher landed a seat on both. [Am Law Daily (sub. req.)]
* Standard & Poor’s is now accusing the Department of Justice of filing its $5 billion fraud lawsuit in retaliation for downgrading the country’s credit rating. Aww, we liked the “mere puffery” defense much better. [Reuters]
* The new ABA prez doesn’t think Obama meant what he said about two-year law degrees. He thinks it’s about cost. Gee, the ABA should probably do something about that. [National Law Journal (sub. req.)]
* Meanwhile, New York Law School wants to condense its offerings into a two-year honors program that comes complete with a $50,000 scholarship. Sweet deal if you can get it, but it sounds like most people won’t. [Crain's New York Business]
* Stewart Schwab, the dean of Cornell Law School, will be stepping down at the end of the academic year. The search for someone new to oversee the filming of amateur porn in the library is on. [Cornell Daily Sun]
* Crisis? What crisis? Nothing is f**ked here, dude. Amid plummeting applications, GW Law increased the size of its entering class by about 22 percent. The more lawyers, the better, right? /sarcasm [GW Hatchet]
* Jacked up! Attorneys for NFL player Aaron Hernandez got a stay in the civil suit accusing the athlete of shooting a man in the face until after the athlete’s murder charges have been worked out. [USA Today]
If your response to someone cheating on you is to file a lawsuit, then you have something in common with the lawyer at the center of this story.
After learning that his fiancée was cheating on him, it was off to the courthouse to bring fraud and intentional infliction of emotional distress claims. A scorned lawyer runs back to the safety and security of a forum that makes him or her most comfortable, I suppose.
After reading the complaint, this guy might just want to cut his losses and consider himself lucky because his ex sounds kinda terrible….
* The speed (or lack thereof) of justice: The DOJ filed suit against Bank of America, alleging that the bank defrauded mortgage-backed securities investors in 2008. [DealBook / New York Times]
* Sri Srinivasan, the newest member of the D.C. Circuit’s bench, is getting ready to hear his first arguments, while litigants try to commit the spelling of his last name to memory. [Legal Times]
* The LSAT is not to blame for the dearth of minority enrollment in law schools, said a UVA Law professor, and then a Cooley Law professor had to swoop in to slap him down. [National Law Journal]
* After teaming up with Touro, the University of Central Florida is working with Barry on an accelerated degree program. The dean of FAMU is upset. Don’t worry, you’ll get your turn, too. [Orlando Sentinel]
* New Jersey is in no rush to legalize gay marriage. To support their views, officials point out that people with civil unions are just like married couples — except for the married part. [New Jersey Law Journal]
* Meanwhile, a judge in Illinois will decide whether she’ll dismiss a challenge to the state’s gay marriage ban by the end of September. In her defense, early fall is a great time for a wedding. [Daily Herald]
* Belvin Perry, the judge who presided over the Casey Anthony murder trial, may be getting his own Judge Judy-esque television show. Oh, Flori-duh, you never, ever cease to entertain us. [MSN News]
“For example, on or about July 29, 2009, a recently hired SAC PM (the ‘New PM’) sent an instant message to [Steve Cohen] and relayed that, due to some ‘recent research,’ the New PM planned to short Nokia when he started work 10 days later. The New PM apologized for being ‘cryptic’ but noted that the head of SAC compliance ‘was giving me Rules 101 yesterday – so I won’t be saying much[.] [T]oo scary.’”
Possibly the weirdest part here is that new hires got compliance lectures two weeks before they showed up at the firm? But maybe not; the DOJ takes a pretty dim view of SAC’s hiring process generally, and if you believe the DOJ that SAC’s main hiring criterion was “is good at insider trading,” then you could imagine the need for a little pre-start-date warning in email etiquette:
* Should the mentally disabled receive the death penalty? Neither SCOTUS nor Georgia’s Supreme Court stayed Warren Lee Hill’s execution, but the Eleventh Circuit saved the day. [Washington Post]
* If you’re looking for a mishmosh of Biglaw news, from new offices to new hires to new firm leaders, then look no further. If only this list were in alphabetical order! [Law Firm Insider / U.S. News & World Report]
* Dewey know why this partner who was sued by Barclays in the U.K. over his capital loan is suing the bank in the U.S.? It involves an alleged fraud and Joel Sanders. [Thomson Reuters News & Insight]
* So much for that “silly sideshow”: Judge Richard Sullivan of the S.D.N.Y. hasn’t made a ruling in the Greenlight case yet, but he says David Einhorn may have a “likelihood of success on the merits” if the matter proceeds further. [Bloomberg]
* One of the partners at this small law firm apparently watched Secretary a few too many times, and he’s now accused of threatening to “whip” his ex-assistant into shape because she was a “bad girl.” [New York Post]
* The University of Utah’s S.J. Quinney College of Law named an interim successor to former dean Hiram Chodosh, but we can’t say he’s a law dean hottie. He looks like Van Pelt from Jumanji. [Salt Lake Tribune]
* The Catholic University of America’s Columbus School of Law will house the first clinic in the nation devoted to pardons and the law. It figures that a religious school would focus on legal Hail Marys. [Blog of Legal Times]
* Career alternatives for law school dropouts: mining magnate and financier of the Titanic II. Much like the value proposition of going to law school for today’s generation, this idea is unsinkable. [New York Times]
* Prosecutors have upgraded the charge against Oscar Pistorius to premeditated murder, and one could now say the track star doesn’t have a leg to stand on when it comes to being released on bail pending trial. [CNN]
* D is for… divorce? Sesame Street is talking about divorce in a way that children can understand, but alas, the series neglects important topics like “why mommy is a whore” and “why daddy drinks.” [Law Firm Newswire]
Justice never sleeps… except during Obama’s SOTU addresses.
* “You just sit there, looking stupid.” The justices of the Supreme Court aren’t required to show up and look like “potted plants” at the State of the Union address, but some of them do every year. [CNN]
* Well, thanks to the DOJ’s fraud lawsuit filed against ratings agency Standard & Poor’s, it’s starting to look a lot like a litigation gang bang up in here as far as the states are concerned. [Bloomberg]
* Dewey know whether D&L’s retirees are still kicking (legally speaking) or if they’ve decided to send their claims to hospice? We certainly do, and we’ll have more on this later. [Am Law Daily]
* That “death and taxes” thing may be true, but when you’re trying to navigate the U.S. tax code as a married same-sex couple and the government won’t even recognize your union, there’s an uncomfortable air of uncertainty. [New York Times]
* “Have we seceded already? The execution is faster than I thought.” Guess which state in the Deep South accidentally raised a Confederate battle flag over the building that houses its Supreme Court. [Clarion-Ledger]
* Mama said knock you out: if you’re trying to figure out how to get a job after graduating from New England Law School, moonlighting as a champion boxer will help you beat down the competition. [Boston Herald]
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.