Tuesday, February 19, 2008
The Wall Street Jrl reports on the SEC suing the former chief at Refco. This comes on the heals of Phillip Bennett entering a plea with the government (see here). He is set to be sentenced on May 20, 2008 (see here). This recent suit emphasizes the importance of looking at white collar cases globally - that is beyond the individual criminal charges. The collateral consequences of a white collar matter can result in civil law suits, loss of licenses, debarment and a host of other ramifications that need to be factored in when handling this type of case. Sometimes, despite efforts to resolve extraneous matters as part of the plea in a criminal case, one can be left with significant exposure because the collateral consequences are just not a part of the criminal matter.