NJ Atty Disbarred For Concealing $500M Bayou Ponzi Scheme

Law360, New York (May 19, 2014, 7:45 PM EDT) -- The Supreme Court of New Jersey last week disbarred Matthew Marino, brother of former Bayou Group LLC executive Daniel Marino, consummating a years-long suspension following Marino's conviction for helping Bayou conceal its $500 million Ponzi scheme.

Marino, who had been licensed to practice in New Jersey since 1988, was disbarred in a May 14 order released Friday. The order calls for Marino's name to be stricken from the roll of attorneys, permanently restraining him from practicing in the state, and calls for seizure of all funds held in his name and for him to reimburse the Disciplinary Oversight Committee for costs...

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