Wednesday, June 15, 2011

Shell Game Leads To Disbarment

An attorney convicted of obstruction of justice was disbarred by the New York Appellate Division for the First Judicial Department. The court summarized the underlying facts:

Respondent was charged in connection with his involvement
in setting up several limited liability companies that were actually shell companies used to fraudulently transfer more than $25 million. The Statement of the Offense sets forth in detail the respondent's false and misleading statements to FBI agents and federal prosecutors in connection with a grand jury investigation into this scheme to defraud, which false statements were intended to curtail the scope, duration and direction of that investigation. In accepting the plea offer, respondent agreed to forfeit to the United States $275,000 which he agreed approximated his net proceeds derived from his participation in the transactions.

The court rejected disciplinary counsel's argument that disbarment for such a conviction was automatic, because there is no analogous state offense. The attorney did not object to the discipline. (Mike Frisch)

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