An associate formerly of Crowell & Moring pled guilty to embezzling $10.7 million in client funds earlier this month. The associate, Douglas Arntsen, tried to hold back tears as he said he was “consumed with remorse” while at a sentencing hearing. He also said that he was ‘so sorry’ for what he did and apologized to his family, his former employer and his former clients during the hearing. The sentencing hearing was presided over by Acting Supreme Court Justice Jill Konviser in Manhattan. He was sentenced to four to 12 years in prison, according to the New York Law Journal.
Arntsen entered a guilty plea to three counts of first-degree grand larceny and one count of first-degree scheme to defraud in the case. Prosecutors were asking that Arntsen be sentenced to five to 15 years in prison. During his plea hearing, Arntsen agreed to a restitution order for the money he stole.
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Arntsen stole money from Doina Capital and Regal Real Estate. Arntsen was fired from the law firm in September of 2011 and he was then confronted by an employee of Regal Real Estate regarding deposits made on sales of real estate. Arntsen took $1.8 million and told the employee to go to Hong Kong with him for the rest of the money. He sent the employee a copy of a plane ticket. Arntsen did go to Hong Kong, which is where he was arrested and then extradited to the United States.
Posted by Jim Vassallo
on October 18, 2012. Filed under Crowell & Moring LLP,Law Firm News.
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