Ex-K&L Gates Partner Gets 12 Years For $1.1B Fraud

Law360, New York (August 28, 2013, 2:56 PM EDT) -- A former K&L Gates LLP corporate finance partner was reportedly sentenced to 12 years in prison on Friday for using nearly $1.1 billion in client's funds to cover his gambling debts to various casinos in Macau, China.

Navin Kumar Aggarwal, 47, former head of a K&L team in Hong Kong, was sentenced on fraud and money laundering charges stemming from a scheme that defrauded investors in order to fuel his gambling activities, according to the South China Post. Most of the $1.1 billion in losses has...
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