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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.