Monday, January 9, 2012

Second Circuit Overturns Refco Lawyer Conviction

A lawyer convicted for his role in a multi-billion dollar fraud at defunct commodities broker Refco Inc.,will get a new trial, a federal appeals court said on Monday. Click here for the Second Circuit’s opinion.
Joseph Collins, a one-time Mayer Brown partner and a long-time lawyer at Refco, was convicted in July 2009 of helping the owners and executives at the defunct commodities broker in a scheme to steal more than $2 billion by concealing its financial troubles. He was sentenced to seven years in prison.


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