Refco Insiders Duped Ex-Mayer Brown Atty, Defense Says

Law360, New York (November 8, 2012, 8:54 PM EST) -- Joseph Collins, the former Mayer Brown LLP partner being retried for allegedly aiding a $1 billion accounting fraud at Refco Inc., was fooled by Refco insiders and ignorant of the sham, his lawyer said Thursday in a last plea to jurors.

Refco's insiders are among the greatest liars on Wall Street and kept Collins, their chief outside counsel, in the dark about their scheme to hide losses by unloading them onto Refco's parent company, Collins' lawyer William Schwartz of Cooley LLP said in closing arguments in...
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