I pity lawyers licensed in Virginia, or at other states that require CLE credit. When they go to a conference, they have to actually go to the conference.
For the rest of us, a conference – especially the ABA’s white-collar criminal defense conference – drops much of the pretense of being an educational experience. It’s an odd thing. One would think that the point of going to a conference would be to learn about the law. Yet, sometimes that’s not the move.
I spent some wonderful years in my 20s living in New Orleans. During Mardi Gras, social obligation would require that I attend certain parties before and then after a parade, but they often started really early in the morning and ended very late at night. The entire week before Fat Tuesday became something of a Bataan Death March of merriment, which, when you’re in the middle of it, is not quite so merry after all.
Criminal charges are on the way for Steven Davis, Stephen DiCarmine, and Joel Sanders — the former chairman, executive director, and CFO, respectively, of defunct Dewey & LeBoeuf.
Almost two years have passed since the Biglaw firm’s bankruptcy filing, causing some observers to think that perhaps the Steves would never get charged. The argument, in a nutshell: they might have been poor managers or even downright moronic, but they didn’t commit any crimes.
Alas, sadly for Messrs. Davis, DiCarmine, and Sanders, it seems that Manhattan District Attorney Cyrus Vance doesn’t agree with that line of thinking. What types of charges can the trio look forward to?
(Please note the UPDATES added to this post, reflecting information from the indictment and the SEC complaint.)
The biggest business issue confronting the white-collar criminal practitioner is getting paid. It’s trickier in the white-collar world than in other practice areas for a few reasons.
First, normally you’re representing an individual. People normally have less money than companies.
Second, many people who commit crimes to get money do it because they don’t have money to begin with. That includes money to pay you.
Third, if a potential client made money through whatever conduct landed them in a criminal case, the Supreme Court just held that now it’s easier for the government to take that money away from them so they can’t pay you.
As the Chief Justice summarized what the Court did, in dissent,
We have held… that the Government may effectively remove a defendant’s primary weapon of defense — the attorney he selects and trusts — by freezing assets he needs to pay his lawyer. That ruling is not at issue. But today the Court goes further, holding that a defendant may be hobbled in this way without an opportunity to challenge the Government’s decision to freeze those needed assets.
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.).
Most of the Eastern Seaboard is buried under a snowstorm today. Yet, a deeper, harder freeze is finally lifting.
For too long now, the federal government has been living with sequestration. Agencies have seen their budgets frozen or cut. At the same time that the private sector market for lawyers has contracted, getting a job as a lawyer in the federal government has been incredibly hard. It’s been winter in the federal employment world.
* With the revelation that standout defensive end Michael Sam is gay, a number of NFL types are trotting out the whole “he’ll be a distraction” excuse. That’s a pretty stupid excuse. [Lawyers, Guns & Money]
* It’s a zombie! The living dead! Or maybe just a living woman that banks have declared dead despite all evidence to the contrary. [ATL Redline]
* Remember Brandon Hamilton? He used to be the the assistant dean of admissions at Louisville Law before he promised students $2.4 million more in scholarships than the school had to give. Well, he finalized his plea bargain. [The Courier-Journal]
This afternoon, here in Manhattan, a jury found former SAC Capital portfolio manager Mathew Martoma guilty of insider trading. The verdict wasn’t a shock, given the strong evidence against Martoma and the fact that another former SAC trader, Michael Steinberg, got convicted in December on weaker evidence.
The trial involved a number of boldface names of the legal profession. The office of U.S. Attorney Preet Bharara (S.D.N.Y.), one of our 2013 Lawyer of the Year nominees, was represented by assistant U.S. attorney Arlo Devlin-Brown, one of the office’s most prominent prosecutors (and a star of the college debate circuit, for those of you who used to do debate). Martoma was defended by a team from Goodwin Procter that included Richard Strassberg, an S.D.N.Y. alumnus, and Roberto Braceras, another former federal prosecutor — and the son-in-law of Judge José Cabranes. The prosecution’s lead witness, Dr. Sidney Gilman, was represented by Bracewell & Giuliani’s Marc L. Mukasey — son of former S.D.N.Y. judge and U.S. Attorney General Michael Mukasey.
And some of our readers might know Mathew Martoma. He was a student at Harvard Law School back in the 90s, before he got expelled for fabricating his transcript while applying for clerkships.
Here are some notable numbers relating to the Mathew Martoma mess:
You have to get clients. You have to know how to help them with their legal needs.
You have to know the law, and know how to work appropriately with other lawyers (the ones who have interests aligned with your clients, adverse to your clients, and in that funny other space where you aren’t really sure yet).
And, at some point in your career, you also have to figure out how to get someone to pay you for doing this work for your clients.
If you’re trying to build a white-collar practice, it can be daunting to figure out how to do these things. Happily, there are a few places that can help (with the knowing the law, helping clients with their legal needs, and knowing how to work with other lawyers problems – the getting clients and getting paid problems less so).
Perhaps you also have a strong pressing need to go out of town where you can have all the fun of both missing your family and increasing the chance that you’ll be attacked by bedbugs.
If so, you’re in luck! The white-collar world has not one, but two great conferences (and one of them is coming up soon).
My take on which are the must-attend conferences of the white-collar world is after the jump.
It’s a lamentable fact that very few white-collar cases in federal court go to trial. Most plead. Many of those that plead also involve someone providing evidence to the government against someone else; the people involved cooperate (or flip, or snitch, depending on who is talking about what happened).
White-collar cases, at least after an indictment, are often litigated with an eye toward the sentence that will come out at the end. And, with significant sentences in white-collar cases, that makes sense.
Most people plead rather than go to trial because a plea generally locks in some certainty about what will happen at sentencing. (True, in a world where the sentencing guidelines are discretionary, a judge may have a lot of power to decide a sentence that defeats a party’s expectations, but, generally, either by creative use of a statutory maximum — the government agreeing to make certain recommendations — or the simple fact that pleading guilty is a recognition that you aren’t going to spend a lot of the judge’s time sitting in trial, a plea can give a reason to think that the sentence at the end of the case will be lower. Though, of course, there’s always a Madoff exception.)
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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