Ex-Mayer Brown Atty Guilty Of Refco Fraud, 2nd Jury Finds

Law360, New York (November 16, 2012, 5:49 PM EST) -- A federal jury on Friday found former Mayer Brown LLP partner Joseph P. Collins guilty of helping hide the $1 billion accounting fraud that destroyed brokerage Refco Inc., a second loss for the disbarred lawyer formerly based in Chicago.

Jurors found Collins, 62, guilty on seven of 10 counts he faced, including counts of securities fraud and conspiracy, for participating in what prosecutors called “the hole” — a scheme to secretly unload Refco's mounting debt to its parent company.

The trial was Collins' second in Manhattan...
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.