Legal Ethics, White-Collar Crime

Managing Partner Who Allegedly Stole $30 Million From Clients Indicted

Federal prosecutors are coming down hard on a managing partner who allegedly took a pretty penny to pay off some massive gambling debts.

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prison RFBack in 2014, we were shocked[1] when Morris Hardwick Schneider filed suit against its former managing partner Nathan Hardwick for allegedly embezzling $30 million from the firm’s clients. The story was, to say the least, extraordinary: paying off casino debts in the millions, buying luxurious accommodations, and racking up miles on private jets.

Now he’s been indicted.

As we described the operation based on the civil complaint:

Morris Hardwick Schneider, along with its affiliated entity LandCastle Title, filed a lawsuit on Monday alleging that its former managing parter Nathan Hardwick (technically Nathan Hardwick IV, to give it that extra pretentiousness) had “systematically depleted the Firm accounts, including Firm Trust Accounts and Firm Operating Accounts, for his personal benefits.” The scheme described in the complaint is complex, involving a constant theft upon Peter to compensate Paul — moving money from one account to another to keep anyone from uncovering the extent of the operation — as well as multiple specific instances of altering bank statements to throw others off.

According to the indictment handed down earlier this month, it seems as though Hardwick may have been playing catch-up with all these transfers, with details of outstanding lawsuits by the Bellagio and a private jet company filed back in 2011. Isn’t that always the way?

Hardwick has decamped from his lavish digs at the St. Regis to the federal lock-up. His Motion for Detention will be heard tomorrow.

If you want to bet he gets released, the Bellagio will take that action.

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(Check out the indictment on the next page.)

Earlier: Managing Partner Accused Of Embezzling $30 Million From Clients


[1] Can anything a lawyer does really shock us anymore?

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