Ark. Atty Pleads Guilty To $9M Settlement Fund Theft

Law360, New York (June 1, 2009, 12:00 AM EDT) -- Arkansas plaintiffs attorney Steven Eugene Cauley of Cauley Bowman Carney & Williams PLLC pled guilty to wire fraud and criminal contempt Monday after reaching an agreement with prosecutors over his failure to produce $9.3 million in settlement money for plaintiffs in a securities class action against insurer Bisys Group Inc.

Cauley appeared in the U.S. District Court for the Southern District of New York before Judge Paul A. Crotty on one count of wire fraud and one count of criminal contempt.

As part of his deal...
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