Mayer Brown's Joseph Collins
The trial of Mayer Brown partner Joseph P. Collins, who allegedly helped craft fraudulent loans that hid debt at commodities broker Refco Inc. and led to its 2005 collapse, has been postponed until next month.
The trial was slated to start April 6, but will now begin on May 11 after U.S. District Judge Leonard Sand granted the postponement in the Southern District of New York case. The government requested the delay because of a family emergency for one of the federal prosecutors, said a spokeswoman for the U.S. Attorney's Office in the Southern District of New York. USA v. Collins, No. 07-1170.
Collins was indicted in December 2007 on federal criminal charges that his legal work for Refco included securities fraud, wire fraud, bank fraud, false filings with the U.S. Securities and Exchange Commission, money laundering and making misstatements to auditors. Collins, who has been suspended by the firm and is being represented by Cooley Godward Kronish, has said he's innocent of the charges.
Another federal judge, U.S. District Court Judge Gerard E. Lynch, last month dismissed a Refco shareholder lawsuit against the firm and Collins, saying in light of the recent U.S. Supreme Court ruling in Stoneridge Inv. Partners v. Scientific Atlanta, the defendants weren't liable because they didn't make statements directly to shareholders.
