Last week, federal prosecutors in Manhattan charged two former stockbrokers, Thomas Conradt and David Weishaus, with insider trading. There is a legal angle here (aside from the criminal charges and the civil case being brought by the SEC): Conradt is a lawyer, a member of the Maryland and Colorado bars, and Weishaus graduated from the University of Baltimore School of Law a year after Conradt.
To be honest, though, we’re not intensely interested in Conradt and Weishaus. Their alleged misdeeds occurred while they were working in finance, not law; the contours of Conradt’s legal career are somewhat unclear; and as for Weishaus, it’s not clear that he ever passed the bar or practiced as a lawyer.
As regular readers of Above the Law know, we have a weakness for prestige around these parts. So we’re far more interested in the former Cravath associate who, according to law enforceent allegations, made their misdeeds possible….
* While the mainstream media may claim the presidential race between Barack Obama and Mitt Romney is neck-and-neck in a dead heat, the majority of Am Law 200 managing partners are predicting the incumbent will be reelected for another four years. [Am Law Daily]
* In the meantime, infamous media whores Donald Trump and Gloria Allred have both promised “October surprises” for our presidential candidates. Guess we’ll finally find out what they’re yapping about later today after Allred gets back from court and the Don tweets. [ABC News]
* “These lawyers are my kind of scum. Fearless and inventive.” Raj Rajaratnam’s attorneys plan to appeal his insider trading conviction later this week on claims that the government improperly wiretapped him. [DealBook / New York Times]
* There’s no way this statute is going to be pushed back into the closet. New York’s Court of Appeals rejected a challenge to the state’s gay marriage law on the basis of a violation of open-meeting laws. [Bloomberg]
* Lindsay Lohan’s father wants a judge to place the fading star under a conservatorship. Hey, it worked for Britney Spears, right? And on the plus side, it’s a great way to get her name back into the news. [CNN]
This week brought unfortunate news for an unambiguously gay duo. A former employee of Vanderbilt Law and his boyfriend pleaded guilty to stealing more than $500,000 from the law school — as well as to charges of aggravated statutory rape. Both men then got hit with some pretty heavy sentences.
How much time are they getting? How did they perpetrate their fraudulent scheme? And what did they blow the money on?
Keep reading for more details of their crimes, some color commentary from local correspondents, and photographs of some beautiful youths who used to hang out with the defendants….
Whatever happened to the Manhattan district attorney’s investigation into the failure of Dewey & LeBoeuf? It seems like we haven’t heard about it for weeks. Today we finally have some news to pass along.
As we mentioned in Morning Docket, this morning the Wall Street Journal ran a piece about the current state of the investigation. There are a few additional details, but on the whole, we don’t know very much at this point.
We know more about how you can get your hands on part of Dewey’s art collection. Keep on reading for details on that subject….
Nothing pisses off a lawyer more than uncertainty. Uncertainty gives rise to the risk of undermining the facade of perfect knowledge that attorneys prefer to convey to their clients. Given this character trait, it’s no surprise that the collective white-collar and corporate counsel community is freaking the hell out about every scrap of information it can glean from the Justice Department about its new Foreign Corrupt Practices Act (FCPA) enforcement policy.
So what exactly has these observant lawyers in a tizzy?
Flash back to 2005. Tom DeLay was the Majority Leader in the U.S. House of Representatives, living in a safe Republican district, and poised to chart the course of American politics forever. DeLay was nicknamed “The Hammer” for his brutal efficiency as Majority whip, crushing all dissent from backbenchers and building a solid GOP coalition — a nickname that the fundamentalist DeLay endorses because “the hammer is one of the carpenter’s favorite tools.” In other words, Tom DeLay was a tool.
Most of us know it’s not about what you know, it’s who you know. Incidentally, sometimes it’s also about who your enemies are.
When a big man takes a fall, sometimes folks come out of the woodwork to quicken his race to bottom — especially if they are accidentally invited.
Example A: convicted felon and disbarred attorney Steven Lippman. The former Scott Rothstein partner asked for support letters from friends and colleagues during sentencing, but one lawyer deigned to provide an ice-cold glass of brutal honesty instead. And judging from the sentence Lippman received this afternoon, he’ll have plenty of time for self-reflection.
Keep your friends close, and the people who write your letters of recommendation even closer….
In the chilly late night hours of Christmas 1776, General George Washington crossed the Delaware River to liberate Trenton from Hessians forces serving the British. It was a remarkable display of leadership that Trenton has not witnessed since.
Earlier this week, the New Jersey U.S. Attorney’s Office filed a 31-page criminal complaint charging Tony Mack, Mayor of Trenton, in connection with an alleged bribery scheme worth around $119,000, relating to the sale of city-owned land to private investors….
In a time when many law firms are relatively less stable than their employees would like, it’s definitely not good to hear about a Biglaw executive allegedly defrauding his firm out of hundreds of thousands of dollars.
But such is the world we live in. So let’s get to it: which former executive at Chicago-based Mayer Brown is facing pretty egregious fraud charges?
* “I think this is destined to fail.” People are not happy with the proposed settlement plan for former Dewey partners, but who are they kidding? These people don’t exactly like to part with money — not even to hand out bonuses. [Am Law Daily (sub. req.)]
* Andrew Levander, a partner at Dechert LLP, is representing ex-Barclays chief executive Bob Diamond. Diamond hasn’t been charged with anything, but this white-collar defense lawyer’s apparently been on his side since 2010. [WSJ Law Blog]
* Money talks: lawyers and law firms are the top donors by industry to presidential campaign funds, with Kirkland & Ellis leading for Romney, and DLA Piper for Obama. [Capital Business Blog / Washington Post]
* Escándalo! Louis Freeh’s report revealed that PSU’s “seriously deficient” counsel billed a whopping 2.9 hours on an incident involving Jerry Sandusky’s locker room shower with a young boy. [Centre Daily Times]
* But here’s where the football chatter comes in (not that I know a lot about football): legal experts say Freeh threw an “incomplete” with this report, because it didn’t go far back enough in time. [New York Daily News]
* Sorry, lady, but you didn’t need to attend a Justin Bieber concert for his music to allegedly cause permanent damage to your ears to the tune of $9M. All you really needed to do was turn on the radio. [Chicago Tribune]
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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: firstname.lastname@example.org.
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