Douglas Arntsen has finally met his fate.
The former Crowell & Moring associate will spend between four and 12 years in prison for stealing more than $10 million from his clients.
In September 2011, Arntsen resigned from his position at Crowell & Moring at about the same time one of the firm’s clients noticed money was missing from an escrow account that he maintained. Arntsen fled to Hong Kong, where authorities arrested him upon his arrival for purportedly embezzling millions from multiple clients and using the money for lavish meals, expensive sporting event tickets and strip clubs. Federal authorities extradited him to the U.S. and have held him without bail since January.
Earlier this month, Arntsen pleaded guilty to three counts of grand larceny in the first degree and one count of scheming to defraud in the first degree. He faced between five and 15 years behind bars.
Yesterday, Acting Manhattan Supreme Court Judge Jill Konviser sentenced Arntsen to between four and 12 years in prison for his misdeeds. According to Thomson Reuters, Arntsen tearfully apologized to his victims, former colleagues and family. “I’m so sorry for what I did, for the money I took and I spent, for the trust that I squandered,” he said in a statement. “As much as I’ve dreaded this day, I’ve also longed for it. I am ready to take responsibility for my actions.”
For more InsideCounsel stories about Douglas Arntsen, read:
Douglas Arntsen pleads guilty to stealing more than $10 million
Crowell & Moring settles Arntsen embezzlement suits
Prominent white-collar defense lawyer to represent Douglas Arntsen
Arntsen ordered held without bail
Crowell & Moring reimburses client, releases statement on fugitive associate
Crowell & Moring may have known about lawyer’s misdeeds months ago
Crowell & Moring faces third lawsuit tied to former employee’s theft
