Last August, John J. O’Brien, who was once a highly regarded and well-liked partner in the celebrated M&A practice of Sullivan & Cromwell, pleaded guilty to four misdemeanor tax offenses. The charges of conviction were mere misdemeanors, but the amounts involved were large, as you’d expect from a well-paid partner at S&C.
O’Brien was accused of failing to file income-tax returns for tax years 2001 to 2008, on almost $11 million in partnership income. In the end, he pleaded guilty to failing to file taxes relating to $9.2 million in partnership income, for tax years 2003 to 2008.
Earlier today, John O’Brien was sentenced. The sentencing hearing provided some interesting additional information about why O’Brien acted as he did.
So is O’Brien trading Biglaw for the Big House? And if so, how long a sentence did he receive?
Remember John J. O’Brien? Back in April 2009, we wrote about the mysterious departure of John O’Brien from Sullivan & Cromwell, where he was a well-regarded and well-liked partner in the M&A department. In a follow-up post in December 2009, we noted : “When partners leave a place like Sullivan & Cromwell, there’s often a story behind the departure.”
In our December 2009 post, we reported that John O’Brien “left Sullivan & Cromwell due to an issue relating to his taxes.” We added that the problem was personal, i.e., that it did not implicate S&C or any of its clients (unlike the fraud of another former SullCrom partner, Carlos Spinelli-Noseda, who defrauded the firm and its clients of more than $500K).
Some readers pushed back on this reporting. They claimed that John O’Brien left voluntarily and for perfectly innocent reasons. They told us to leave O’Brien alone. They accused us of harboring ill-will towards Sullivan & Cromwell (even though, to be honest, large law firms are somewhat interchangeable for us here at ATL; they’re all just potential sources of news to write about).
In light of all the flak we took for our John O’Brien coverage — similar to the criticism we received for covering Theodore Freedman’sdeparture from Kirkland & Ellis, a few months before Freedman got indicted by the feds — please forgive us for gloating a little. (This gloating is directed at our critics, not at John O’Brien; we have nothing against O’Brien and wish him the best of luck in moving on with his life.)
Today brings news that John J. O’Brien has been hit with federal criminal charges. Like Ted Freedman, John O’Brien has been hit with tax-related charges. But the numbers involved are larger — a lot larger….
UPDATE (7 PM): O’Brien pleaded guilty. See the update appended to the end of this post.
Hey, have you read Above the Law for like one single minute in the past month? If so, you probably know that we’re having this big blogger conference on March 14th at the Yale Club. Yeah, the Yale Club. You’ll be able to recognize me: I’ll be the only big… blogger guy surreptitiously holding a can of crimson spray-paint.
Speaking of coming, you should come. We’ve got CLE and all that. Click here to buy tickets to get CLE credit for listening to bloggers scream about stuff on the internet.
To refresh your memory, details on the panel that I’m moderating — almost entirely sober, mind you — follow.
My panel is called Blogs as Agents of Change, and we’re going to talk about whether all of these spilled pixels are actually making a difference. You know my view… just ask Lawrence Mitchell, but here are the panelists:
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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