Unhappy With Their Revenues

The New York Appellate Division for the First Judicial Department disbarrred an attorney convicted of conspiracy to commit wire fraud

On October 2, 2012, respondent was convicted in the United States District Court for the Eastern District of New York, upon his plea of guilty, of conspiracy to commit wire fraud (18 USC §§ 1343, 1349), a federal felony. Respondent’s guilty plea stems from his time working for a series of investment companies between 2004 and 2007. According to respondent’s plea allocution, in 2006, he and two business partners, unhappy with their revenues from the investments, transferred approximately $30 million out of a business account and into accounts that they personally controlled. Respondent concealed the transfer of these funds by sending false and misleading financial reports across state lines. During 2006 and 2007, respondent and his business partners transferred the stolen monies to multiple nominee and shell entities in multiple countries, in order to conceal the location of the funds. Respondent admitted that he kept approximately $300,000 of the stolen funds for himself.

Sanction

this Court has previously held that conspiracy to commit wire fraud in violation of 18 USC §§ 1343 and 1349 is essentially similar to the New York felony of scheme to defraud in the first degree in violation of Penal Law § 190.65(1)(b) (Matter of Feuer, 137 AD3d 78 [1st Dept 2016]).

Accordingly, the AGC’s motion should be granted, and respondent’s name stricken from the roll of attorneys and counselors-at-law, nunc pro tunc to October 2, 2012, the date of his plea.

Respondent had not reported the conviction to bar authorities. (Mike Frisch)