Galleon Group

'She was just asking me for directions, officer.'

* Three days after arguing that an alleged Sandusky victim’s lawsuit lacked any factual basis, Second Mile decided to settle. Better strike while the iron is hot (and the wallet is open), lawyers. [Bloomberg]

* So much for that “real shot,” huh? After a failed bid for bail, Galleon Group’s Raj Rajaratnam will begin serving the longest insider trading sentence ever come Monday. [DealBook / New York Times]

* A memo to all Biglaw bachelors: if your game is anything like that of Kenneth Kratz’s, then it’s not just ethics boards who will think you have an “offensive personality.” [Milwaukee Journal Sentinel]

* In Tampa, purchasers of prostitutes’ services will now have their cars impounded. Good thing Miami isn’t adopting this law, eh, Professor Jones? (Allegedly, of course.) [St. Petersburg Times]

* Law school is really tough, so the GMU Law administration has some advice for you: the best way to avoid becoming an alcoholic basket case is to play with cuddly puppies. [Washington Post]

Ya ni panimayou?

* Time to separate the men from the boys (but don’t tell Sandusky). An accuser has hired Jeff Anderson of clergy sex abuse fame, and he wants damages. [Wall Street Journal]

* RajRaj is trying to stay out of jail. He thinks he’s got a shot at getting his Galleon convictions vacated, but he’s probably got a better shot at curing diabetes. [New York Law Journal]

* And speaking of Galleon, lawyers, take note: “you don’t get a pass.” Ex-Ropes & Gray attorney Brien Santarlas was sentenced to six months in jail yesterday. [Bloomberg]

* Emory Law has invented a new way to throw loan money in the garbage. At the bargain basement price of $45K, how could you resist? [National Law Journal]

* Twenty people have been charged with luring illegal, eastern European beauties to work in New York strip clubs. Prepare for some new job listings from the NYU Law career services office. [CNN]

Give me a break. I 'raised' 23 foster kids.

* Members of the Occupy Wall Street brigade were allowed to continue to be dirty hippies living in a park without toilets this morning. So fresh and so clean! OMG, yippee! [Wall Street Journal]

* French prosecutors have dropped another yet another rape charge lodged against Dominique Strauss-Kahn. Seriously? It looks like nothing sticks to this man except money. [CNN]

* Recognizing that it’s really hard to get someone to pick up a partner from the drunk tank when there’s a Blackberry outage, DLA Piper is thinking about switching to iPhones. [Reuters]

* RajRaj was literally the biggest target in the Galleon case, but one of his buddies was sentenced, too. On Wednesday, Michael Kimelman got 2.5 years at the luxurious Club Fed. [Daily Record]

* It took Michele Bachmann seven years to graduate from law school (whereas most graduate in three). She can get things done, but apparently only on her own time. [New York Times]

* Food fight! Things are getting really dirty in this Food Network lawsuit. Guy Fieri not only likes to cook with alcohol, but he allegedly speaks like an angry drunk behind the scenes. [City Pages]

Find out how much he got over at our sister site, Dealbreaker.

Earlier: Prior ATL coverage of Raj Rajaratnam

Ed. note: This post was written by Matt Levine, the new editor on our sister site, Dealbreaker, and Elie Mystal.

Matt here. You might think that Dealbreaker HQ exists only metaphorically in virtual space, or maybe in the fan fiction you’re hiding in your desk, but in fact Bess and I share a real physical garrett both with our sibling sites Fashionista and Above the Law. Occasionally we even talk to each other. “Talk,” in this context, normally means that Above the Law editor Elie Mystal shouts at us about some outrageous political position. In order to quiet him down a bit, we’ve decided to take it to the internet, thus spawning the first – and maybe last! – Above the Law / Dealbreaker Debate Society.

I have been set the task of defending a proposition like “white-collar criminals should not get anything near the jail time they get.” (We are pretty casual with our resolutions here at the Breaking Media Debate Society.)

Fortunately I believe that, so here goes…

double red triangle arrows Continue reading “An Above the Law / Dealbreaker Debate: Insider-Trading Sentencing”

This is the worst piece of whoring journalism I have read in a long time. How long are you going to suck [U.S. Attorney Preet Bharara]’s teat? All to hurt a decent, honest witness, [whom assistant U.S. attorney Reed] Brodsky could not lay a glove on. It did not work. The jury was not impressed by the worst cross examination ever delivered. So in the style of Preet, try to smear him by working the sycophants in the back of the Courtroom. He learned from Schumer in the Senate… Preet is scared sh[**]less he is going to lose this case so he feeds his whores at the WSJ. What a disgrace for an otherwise great paper.

John Dowd, partner at Akin Gump and defense lawyer to Raj Rajaratnam, in an irate email to Wall Street Journal reporter Chad Bray.

Last week I attended an interesting talk by Preet Bharara, currently serving as the U.S. Attorney for the (extremely powerful and prestigious) Southern District of New York. I had heard great things about Bharara from many people, including current and former colleagues in the U.S. Attorney’s office and people who previously worked with him on Capitol Hill, where he served as chief counsel to Senator Chuck Schumer. So I was eager to hear his remarks, which he delivered to the New York Financial Writers Association, a group of business and finance journalists here in New York.

Here’s my report on what he had to say — including, for those of you who aspire to be assistant U.S. attorneys, what he expects from the prosecutors who work for him….

double red triangle arrows Continue reading “An Evening With Preet Bharara”

Maria Shriver

* A former Ropes & Gray attorney caught up in the Galleon Group insider trading scandal, Brien Santarlas, testified yesterday that he was paid thousands of dollars for tips. Then, he was told “to dispose of the phone — break it in half, submerge it in water and put it in a garbage can.” He was also told to “Fart on it, dredge it in panko bread crumbs, and talk mess about its momma.” [Bloomberg]

* A candidate to succeed Dominique Strauss-Kahn as head of the IMF, former Baker & McKenzie chairman Christine Lagarde, may have a legal problem of her own. A less rapey one, but still. [Reuters]

* Maria Shriver has retained prominent divorce attorney Laura Wasser, but has not decided whether to divorce Ahnuld or not. Every decent Arnold Schwarzenegger joke has been done, so here’s Jean-Claude Van Damme dancing. [CBS News]

* An Oregon woman has won her fight to get high and carry a handgun. A three-episode arc on Cops is still being negotiated. [WSJ Law Blog]

* Vivia Chen continues her impeccable trolling with a post on lawyers who were voted “most likely to succeed” in high school. Money quote: “If you’re in law, odds are slim that you came within breathing distance of cheerleaders or star athletes.” [The Careerist]

* The owners of the Mets considered buying fraud insurance for their Madoff money in 2001. Instead, they traded for Mo Vaughn. Bad Idea Jeans. [New York Times]

We all wanted to give Raj the benefit of the doubt. I wanted to believe he was an honest man. How could someone so smart and rich already be involved in something so horrendous?

Leila Gonzalez Gorman, a 44-year-old teacher from Westchester County, who served on the jury that found Raj Rajaratnam guilty of insider trading and conspiracy.

(According to the Wall Street Journal, Rajaratnam “is estimated to have paid as much as $40 million for his defense… about two-thirds of the amount prosecutors said [his Galleon Group hedge fund] made from the insider trading addressed in the charges.”)

Harvard Law School

* Attorney Jason Goldfarb pleaded guilty to securities fraud and conspiracy yesterday in a case that originated with the Rajabba investigation. Here’s his firm website photo. [WSJ Law Blog]

* Harvard Law is being investigated for violating Title IX. As someone who did not attend Harvard, I assume IX rhymes with sticks. Which brings me no closer to understanding exactly what was violated here. [Harvard Law Record]

* The Bonds trial ended just in time for us to get super-psyched about the Roger “Frosted Tips” Clemens perjury trial. Let’s start boning up on it! [Reuters]

* Mexico is considering filing a lawsuit against U.S. gun manufacturers. Poor Mexico, so far from God and so close to Remington. [CBS News]

Frank and Jamie McCourt, in happier days.

* Here’s a thorough breakdown of the McCourt mess, including details on the ongoing Bingham divorce debacle. [Am Law Daily]

* So there’s a Canadian lawyer who looks like Kate Middleton? Yeah, well my buddies say I look like Hedo Turkoglu. #humblebrag [Vancouver Sun via ABA Journal]

* Fox News wins the headline contest for Obama’s new gasoline price task force. [Fox News]

* It’s Friday. Let’s consider the better bonobos of our nature, guys. [Times Higher Education]

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