A former law firm partner who allegedly made almost $18 million trading in clients' securities has been arrested on fraud charges. Louis Zehil, until Feb. 16 a partner in McGuireWoods' New York office, allegedly used his position as issuer's counsel to accumulate millions of discounted shares, absent the sale restrictions such discounts generally entail. He faces up to 20 years in prison and millions in fines -- as well as a civil suit by the SEC, which seeks disgorgement of his allegedly ill-gotten gains.
Former McGuireWoods Partner Arrested on Fraud Charges
New York Law Journal
March 1, 2007