Monday, January 5, 2009
A Louisiana hearing committee has recommended permanent disbarment of a lawyer who defaulted on charges arising from his involvement in a bond trading program that offered guatenteed payout and a substantial return to investors. He had defaulted in civil proceedings brought by investors and has an outstanding judgment against him for $5,990,143.30. He also issued a worthless check for $150,000 drawn on his escrow account.
This case is somewhat unique in the fact that Respondent's known misconduct likely does not tell the whole story in this matter. It is believed by this Committee that the reason for [his] conduct remains unknown is a direct result of his failure to cooperate with ODC in its investigation. As a direct result of this failure, neither this Committee or the ODC may ever know the rationale for [his] misconduct or the extent of the harm caused by [his] actions. However, [He] should not benefit from his failure to cooperate.