Thursday, July 25, 2013
The New York Appellate Division for the Second Judicial Department has disbarred an attorney based on a felony conviction.
The court set out the facts:
...the respondent stipulated that from January 2003 through December 2006, he was the chief paid political consultant to Alan Hevesi who, at the time, was the New York State Comptroller and the sole trustee of the New York Common Retirement Fund (hereinafter the CRF).
During that time, the respondent understood that David Loglisci, as Director of Alternative Investments, and then as Chief Investment Officer, was responsible for reviewing and recommending proposed investments by the CRF.
At or about that time, the respondent had financial interests related to certain alternative investments proposed by investment firms to the CRF. The respondent knew of and facilitated Loglisci's and Hevesi's recommendations and approvals of certain proposed alternative investments to generate, in part, fees to the respondent or others known to him. The respondent did not disclose those financial interests to any person other than Loglisci or Hevesi. The respondent stood to receive millions of dollars in fees from the proposed alternative investments Loglisci or Hevesi recommended and approved.
The respondent contemporaneously sought contributions to Hevesi's re-election campaign from, among others, those individuals whom the respondent knew were doing, or seeking to do, business with the CRF. The respondent knew that Loglisci or Hevesi recommended and approved proposed alternative investments for persons associated with those investments who contributed to Hevesi's campaign.
With respect to Count 19 of the Indictment, the respondent stipulated that "from in or about March 2005 through in or about February 2007, [he] intentionally engaged in fraud, deception, concealment, suppression, false pretense and fictitious and pretended purchase and sale, and made material false representations and statements with intent to deceive and defraud, while engaged in inducing and promoting the exchange, sale, negotiation and purchase within and from New York of securities . . . and thereby wrongfully obtained property . . . and fees related to the investment of CRF funds."
On February 17, 2011, the respondent was sentenced to an indeterminate term of imprisonment of 1⅓ to 4 years.