In a case that highlights how even the most prestigious law firms are not immune to fraud, scammers reportedly siphoned off nearly $500,000 intended for Sullivan & Cromwell LLP, one of the nation’s most respected legal institutions. The scheme, which used deceptive corporate names and falsified checks, is now at the center of a legal action filed by New York Attorney General Letitia James.
The Deceptive Scheme
According to court filings, fraudsters managed to set up multiple fake entities with names nearly identical to the storied Wall Street firm. Variations such as “Sullivan & Cromwell LLC” and even “Sullivan & Kromwell” were registered in New York State, differing from the legitimate firm’s name by only a few letters — a small but cunning alteration designed to mislead banks and financial institutions.
The scammers allegedly took legitimate checks made out to Sullivan & Cromwell and altered the payee information, diverting the funds to their fraudulent accounts. Two of those checks — both processed by JPMorgan Chase Bank — cleared successfully, transferring a total of approximately $500,000 into accounts controlled by the imposters.
A third check, for about $23,000, was also tampered with and reissued under the fraudulent name “Sullivan & Kromwell,” but in that instance, the deception was caught in time, and the check was not honored by the bank.
Legal Action by the Attorney General
Attorney General Letitia James has since filed a lawsuit in Manhattan Supreme Court, seeking to dissolve the fraudulent companies and permanently bar those responsible from conducting business in New York. The suit was filed under New York Executive Law § 63(12), which authorizes the Attorney General to act against entities engaged in repeated or persistent fraudulent or illegal conduct.
The complaint details how these fake entities used Sullivan & Cromwell’s real office address on their filings with the New York Department of State, creating an appearance of legitimacy that helped them deceive financial institutions. The use of the firm’s name and address without authorization further deepened the fraud’s reach and impact.
“The use of a world-renowned law firm’s identity to deceive and steal from others is a serious offense that undermines public trust,” the complaint states. James is asking the court to dissolve all fake entities and to issue injunctions preventing them or their operators from using any similar names in the future.
A Familiar Name in a New Context
Interestingly, this lawsuit places Letitia James and Sullivan & Cromwell on the same side — an unusual alignment given their current legal entanglements in other high-profile matters. The firm is presently representing Donald Trump in his appeal of the massive civil fraud judgment brought by James’s office earlier this year.
In that separate case, James’s office accused Trump and his organization of inflating asset values to secure favorable loans and insurance terms, leading to a substantial judgment against the former president. Despite being on opposite sides of that legal battle, both parties now find themselves united against a common enemy: fraudsters exploiting the Sullivan & Cromwell name for criminal gain.
The Bank’s Role and Ongoing Investigation
JPMorgan Chase, the financial institution that cleared the altered checks, has not been accused of wrongdoing, though the incident underscores the persistent vulnerabilities in the financial system’s anti-fraud controls. Law enforcement agencies and the Attorney General’s office are reportedly working to trace the stolen funds and identify the individuals behind the fake corporations.
The identities of those responsible remain undisclosed, and as of this report, no arrests have been made. However, the Attorney General’s office emphasized that such schemes often involve complex layers of shell corporations and money laundering tactics, which can take time to fully unravel.
Sullivan & Cromwell’s Response
While Sullivan & Cromwell has not issued a formal statement, sources close to the firm confirmed that it had no involvement or knowledge of the fraudulent entities until the altered checks surfaced. The firm has been cooperating with investigators and financial institutions to ensure the culprits are brought to justice and to prevent similar incidents in the future.
Founded in 1879, Sullivan & Cromwell is known for representing major financial institutions, multinational corporations, and high-profile individuals. Its global reputation for excellence makes it an appealing target for scammers seeking to exploit its credibility.
Broader Implications for the Legal Industry
This incident serves as a cautionary tale for law firms and clients alike. Even the most established firms are vulnerable to identity fraud and payment diversion schemes, particularly in an era where business transactions often occur electronically or through remote processing.
Experts urge law firms to implement stronger verification systems, monitor the use of their corporate names, and maintain open communication with banks regarding suspicious transactions.
The case also highlights a growing trend in cyber and financial crime targeting the legal industry. With firms managing billions in client funds through trust accounts and settlement payments, they remain prime targets for increasingly sophisticated fraud tactics.
What Comes Next
As Attorney General Letitia James continues her efforts to shut down the fake Sullivan & Cromwell entities, the case underscores the need for vigilance, transparency, and accountability across the legal and financial sectors.
The outcome of the lawsuit will determine whether these fraudulent entities are dissolved and whether further action will be taken against those behind the scheme.
For now, the case stands as a striking reminder that even legal giants like Sullivan & Cromwell are not immune from financial deception — and that protecting the integrity of the legal profession requires constant attention to detail, even in the smallest letters of a name.
Protect Your Legal Career from Scams—Build It with Trusted Opportunities!
Stories like this remind us that reputation and vigilance matter in every corner of the legal world. If you’re seeking a secure and rewarding career path, explore verified, direct-from-employer legal jobs on LawCrossing.com—the nation’s most comprehensive legal job board trusted by top firms and attorneys nationwide.
