Biglaw

Former Biglaw Partner Faces Up To 20 Years In Prison For Fraudulent Scheme

Martin Shkreli's lawyer, Evan Greebel, was found guilty on two counts.

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Evan Greebel and Martin Shkreli

After an 11-week trial, Evan Greebel, former attorney to pharma bro Martin Shkreli, was found guilty of conspiracy to commit securities fraud and conspiracy to commit wire fraud.  Greebel, a former partner at Katten Muchin Rosenman and Kaye Scholer, faces a maximum of 20 years in prison.

Greebel acted as outside counsel for pharmaceutical company Retrophin from 2012 to 2014. During that time, prosecutors alleged Greebel assisted Shkreli in using Retrophin’s assets to pay investors in unrelated hedge funds run by Shkreli through the use of phony settlement and consulting agreements and fraudulently backdating agreements .

During the trial, Greebel’s attorneys tried to paint him as victimized by the notorious Shkreli; during his opening statement for the defense, Gibson Dunn’s Reed Brodsky said Shkreli lied about key facts to Greebel. Brodsky’s reaction to the guilty verdict was one of shock:

“We are shocked by the verdict,” said Reed Brodsky, a lawyer for Greebel. “We will continue to fight for justice for Evan Greebel and his family.”

In comments to reporters following the verdict, Brodsky said his client was unfairly painted by his former association with the “toxic” Shkreli, and that he “hope[d] that the judge will evaluate the evidence and the law and right this injustice.”

In a statement regarding the verdict against Greebel, Acting United States Attorney for the Eastern District of New York Bridget M. Rohde said the verdict sends a message that attorneys will be held accountable when their actions are made to “facilitate the commission of crimes”:

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“By helping Retrophin CEO Martin Shkreli steal millions of dollars and cover up Shkreli’s fraud, the defendant Evan Greebel betrayed the trust placed in him by Retrophin’s board of directors to represent the company’s best interests,” stated Acting United States Attorney Rohde. “Today’s verdict sends a powerful message that this Office, together with our law enforcement partners, will hold lawyers accountable when they use their legal expertise to facilitate the commission of crimes.”

No date has been set yet for Greebel’s sentencing.

headshotKathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

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