Judge Releases Some McGinn Assets For Criminal Defense

Law360, New York (April 5, 2012, 6:44 PM EDT) -- A New York federal judge on Wednesday allowed the alleged perpetrators of a $136 million securities fraud at McGinn Smith & Co. to unfreeze some of their assets to pay for a separate criminal trial against them, as long as those assets were not proceeds of illegal activity.

Brokerage founders Timothy McGinn's and David Smith's motion to gain access to their assets to cover an estimated $300,000 each in attorneys' fees in the pending case against them was granted in part, but Smith and his wife...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. McGinn, Smith & Co, Inc. et al

Case Number



New York Northern

Nature of Suit



Gary L. Sharpe

Date Filed

April 20, 2010

Law Firms

Government Agencies

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.