Disbarred NY Atty, Fla. Lawyer Indicted In Opinion Letter Scam

Law360 (December 2, 2020, 4:30 PM EST) -- A disbarred New York lawyer and a Florida attorney were arrested and indicted Wednesday on securities fraud charges for an alleged scheme to produce opinion letters that falsely assured investors about the legitimacy of dozens of companies' securities offerings.

Richard Rubin, a Brooklyn-based former U.S. Securities and Exchange Commission lawyer who was disbarred in 1995, pled not guilty at his arraignment in New York on Wednesday, while Thomas Craft was slated to appear in Florida federal court. Both men have a hearing in New York federal court on Dec. 15.

According to the indictment, Rubin and Craft fraudulently wrote three different...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!