Home

Former McGuireWoods Partner Pleads Guilty to Securities Fraud
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Louis W. Zehil, a former securities lawyer and partner at McGuireWoods, pleaded guilty to fraud and conspiracy to commit securities fraud in the Southern District of New York Monday.

The New York Law Journal reports Zehil admitted to making $10 million in illegal profits by using his role as counsel to illegally trade shares in seven companies that he helped to structure private investment in public equity, or PIPE, transactions between January 2006 and February 2007.

“I knew what I was doing was wrong,” Zehil told Judge Deborah A. Batts. “I take full responsibility for my actions.”

  
What
Where


According to Bloomberg, PIPE shares must be registered with the U.S. Securities and Exchange Commission before they can be publicly traded. However, Zehil purchased his clients shares and sold them before being registered. Then, he and an unnamed associate sent opinion letters to transfer agents that they knew contained misrepresentations.

“My misrepresentation permitted me to have an improper head start” on other investors, Zehill said, according to Bloomberg. “I know that what I was doing was wrong and I take full responsibility for my actions.”

Zehill was a partner at McGuireWoods from April 2004 to February 2007. He is facing a maximum prison sentence of 20 years for securities fraud and a maximum of five years for conspiracy.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a mid-level litigation attorney with experience taking/defending dep...

Apply Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a support attorney with some experience/familiarity with a litigatio...

Apply Now

Patent Prosecution Attorney

USA-MI-Northville

Northville office of our client seeks patent prosecution attorney with 5 years of experience. The ca...

Apply Now

Attorney

USA-WV-Wheeling

Wheeling office of our client seeks attorney preferably with 1-3 years of WV litigation experience. ...

Apply Now

RELEVANT JOBS

Attorney - Insurance Defense

USA-GA-Atlanta

Downtown litigation law firm seeks associate with 3 to 5 years of experience in insurance defense, i...

Apply now

Legal Secretary-Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Legal Secretary or Paralegal. We are a cannabis law firm...

Apply now

Paralegal- Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Paralegal or Legal Secretary. We are a cannabis law...

Apply now

Legal Administrative Assistant

USA-CA-Sacramento

Under the general direction of the supervising attorney(s) and according to established Firm policie...

Apply now

SEARCH IN ARCHIVE

To Top