Tuesday, November 22, 2005

Scanlon Pleads Guilty

As discussed here, the filing of a one count information against Michael Scanlon was an indication of a forthcoming plea.  So it was no surprise to see the NYTimes reporting here that Scanlon plead guilty to one count - conspiracy.  It appears likely that we will be seeing Scanlon cooperating with the government's investigation. (See also Bloomberg here). Although it is possible for the government to charge only person who was a party to a conspiracy and leave others to be unindicted co-conspirators, this plea seems to indictae otherwise.  The Hill notes here that the plea provides that Scanlon pay $19.7 million in restitution.  Scanlon was represented by Plato Cacheris. (see also Wall Street Jrl here).



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