Lawyers Gone Wild redux...
This is getting a little ridiculous now, isn’t it? What is happening?
Ropes & Gray attorney charged with insider trading in Galleon case:
The broadest of the complaints names seven defendants, including Arthur J. Cutillo, a lawyer at the prestigious firm of Ropes & Gray, who is accused of offering tips on impending takeovers that the firm worked on. The tips were then passed among a group of lawyers and traders. Some members of the ring were paid off in cash, according to the complaint…
Lawyer pleads guilty in “pump and dump” case:
Robert Brown, a former partner at New York’s Reitler Brown & Rosenblatt (now Reitler Kailas & Rosenblatt), agreed to plead guilty to obstruction of justice for hiding what he knew about a “pump and dump” scheme involving an unnamed investment firm in Newport Beach, Calif. According to documents filed at the U.S. District Court for the District of Columbia, Brown also helped an executive from the firm, as well as the chief executive officer and a member of the board of directors of a Chinese company, fraudulently transfer more than $25 million through a series of shell companies into accounts they controlled.
Lawyer implicated in $50 million kickback scheme:
A banner week for lawyers behaving badly got even more interesting on Tuesday when Troutman Sanders real estate practice chair Leonard Grunstein was named in a complaint filed by federal prosecutors in Boston.
The complaint alleges that Grunstein, wealthy real estate investor Rubin Schron and investment banker Murray Forman participated in a scheme to accept $50 million in kickbacks from Covington, Ky.-based pharmaceutical vendor Omnicare in order to provide services to a nursing-home company called Mariner Health Care in which the three men are principals.
