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]
The verdict is in — and we’re not just talking about vanity license plates for luxury cars. We’re talking about the jury in the prosecution of former senator John Edwards, vice-presidential nominee turned disgraced philanderer, for alleged violations of campaign finance law.
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: