Play it to win it

10 Aug 2010 at 1:18 PM
Crime

Plea Deal of the Day: Poker Payback for Securities Fraud

By Kashmir Hill

Samuel McMaster, Jr. didn’t play his cards right before, but hopefully he can now. The former stockbroker admitted to 26 felony charges of securities fraud, after having sold half a million dollars of worthless promissory notes to his victims. He faces up to 12 years in the clinker.

But, apparently, McMaster is a skilled poker player. And as one would expect from an expert swindler, he’s quite a smooth talker. According to ABC News (via Dealbreaker), New Mexico prosecutor Phyllis Bowman agreed to an unusual deal with him: he can try to play poker for his freedom.

White collar defense attorneys, listen up. If McMaster can win back the $440,000 he owes his more than 20 victims, he’s a free man…

Continue reading “Plea Deal of the Day: Poker Payback for Securities Fraud”

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Tags: Crime, Financial crime, Play it to win it, Poker, Seriously?

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- Asia Chronicles
Hong Kong/China and Singapore US Associate Lateral Markets Improving With New Openings In Cap Markets, M&A, Fund Formation, Project Finance And FCPA / White Collar Litigation
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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: asia@kinneyrecruiting.com.

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- Tags: Asia, China, Hong Kong, Legal Recruiting
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Above the Law

A Legal Tabloid - News, Insights, and Colorful Commentary on Law Firms and the Legal Profession

Managing Editor: David Lat
Editor: Elie Mystal
Assistant Editor: Staci Zaretsky
Contributors: Kashmir Hill, Marin, Mark Herrmann, Jay Shepherd

Play it to win it

Plea Deal of the Day: Poker Payback for Securities Fraud

Sponsored Content

Bridge the Gap: Attorneys Learning Real World Principles

Sponsored Content

Hong Kong/China and Singapore US Associate Lateral Markets Improving With New Openings In Cap Markets, M&A, Fund Formation, Project Finance And FCPA / White Collar Litigation

Sponsored Content

Virtual Canary in the Digital Mine #3: Total Pre-Cull (Part 1 of 3), Or, How I Learned to Stop Worrying and Love Predictive Coding

Video Profiles for Job Seekers

Contact Us

Editorial Staff

How Can We Help You?

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