Home

Former Nixon Peabody Employee Indicted
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Former Nixon Peabody partner, David Tamman, has been indicted by a federal grand jury in Los Angeles. The indictment is for ten counts for being involved in aiding a former client cover a securities fraud scheme that totaled over $20 million. A press released from the United States Attorney’s Office for the Central District of California said that the charges against Tamman include obstruction of justice, conspiracy, and the alteration of records. The release also said that if convicted on all counts, Tamman would face a maximum sentence of 190 years in federal prison, according to the AmLaw Daily.

John Farahi, the client at the heart of the scheme, was also indicted by the same federal grand jury. He was indicted on 41 criminal counts. Those counts include mail fraud, loan fraud, aggravated identity theft and many more.

  
What
Where


Farahi was able to defraud investors by making promises their money was being put toward the purchase of corporate bonds. He told clients those bonds were backed by the federal bank bailout program known as the Troubled Asset Relief Program. Farahi instead used the money to improve his Ponzi scheme and support the lavish lifestyle of his family.

Farahi’s company was investigated by the Securities and Exchange Commission, beginning in April of 2009. The company was named New Point Financial Services. When the investigation began, Farahi and Tamman attempted to hide the fraud scheme. In an effort to hide the scheme, documents were backdated and the removal of incriminating documents from client files before those files were submitted to the SEC. They were also charged with lying to SEC officials in a sworn testimony.

Tamman has already lost two jobs because of the alleged offenses and the SEC probe. Tamman was terminated by Nixon Peabody back in October of 2009 when “we learned that he was under SEC investigation and he failed to explain his actions to us,” as told to AmLaw Daily.

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!!




Nixon Peabody was sued by Tamman in October because he claims the company made him a scapegoat in the issue, taking almost $1.5 million of his business away from him. The lawsuit also claims that the company made it a point to pin the issue on him instead of their company.

Tamman previously worked at Liner, Grode, Stein, Yankelevitz, Sunshine, Regenstreif & Taylor. Tamman took New Point with him from his former employer to Nixon. There were quite a few other Nixon lawyers who also handled the Nixon account, as alleged in the Tamman lawsuit against Nixon. A response has yet to be filed by Nixon in response to the lawsuit.



Greenberg Traurig hired Tamman after he was relieved by Nixon Peabody, but that firm let him go in January when it found out about his alleged problems.



 

RELEVANT JOBS

Legal Secretary

USA-LA-New Orleans

A New Orleans litigation law firm is seeking an experienced Legal Assistant / Legal Secretary to und...

Apply now

Consumer Bankruptcy Attorney

USA-TX-Fort Worth

We are currently looking for a consumer Bankruptcy Attorney to join our team. This position is respo...

Apply now

Legal Assistant

USA-TN-Knoxville

London & Amburn, PC is located in downtown Knoxville, Tennessee near the Hilton Hotel. London & A...

Apply now

Paralegal

USA-NE-Bellevue

Paralegal Big Fire Law & Policy Group LLP is seeking an experienced Paralegal to join our Firm. ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Family Law Attorney

USA-CA-Sacramento

Sacramento office of our client seeks Family Law Attorney with 6 years of experience. The candidate ...

Apply Now

Business Litigation Attorney

USA-NY-New York City

New York City office of a BCG Attorney Search top ranked law firm seeks Business Litigation Attorney...

Apply Now

Litigation Associate Attorney

USA-TX-Dallas

Dallas office of a BCG Attorney Search top ranked law firm seeks Litigation Associate Attorney with ...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top