Though he narrowly escaped conviction the first time around, former Mayer Brown partner Joseph Collins was found guilty on Friday of seven out of 10 counts he faced in the retrial of a fraud case.
Collins was convicted of conspiracy and securities and wire fraud for helping ex-executives of Refco Inc.—a commodities brokerage—pull a $2.4 billion fraud scheme on investors. The court found that Collins helped conceal Refco’s financial condition shortly before it went bankrupt in 2005.
"Over and over and over again, Collins ignored his duties as an officer of the court by actively participating in the crimes of his client--telling blatant lies, falsifying important documents, and concealing others," U.S. Attorney Preet Bharara said in a statement.
In the earlier trial, Collins was convicted of five counts and sentenced to seven years in prison. His conviction was then reversed because of the way a judge dealt with a note written to the court by a juror.
Collins’ sentencing is scheduled for March 20, and he plans to appeal the conviction, according to his defense counsel.
Read more at the ABA Journal and Bloomberg Businessweek.
For more fraud stories on InsideCounsel, see below:
Former Madoff employee pleads guilty to decades of fraud
State sues former Red Sox pitcher over failed loan
Disagreement with clinical trial methodology insufficient to claim fraud
Paul Ceglia arrested for alleged Facebook fraud
Alleged Broadway fraud involved bogus investors and a faked death
Chevron fraud case heads to U.S. as Ecuadorean judge orders seizure of the company’s assets
