A former McGuireWoods partner admitted Monday to using his position as counsel to small companies to make $10 million in illegal profits. Louis W. Zehil pleaded guilty to securities fraud and conspiracy to commit securities fraud before a New York federal judge. Zehil was forced to resign from McGuireWoods in 2007 after it was revealed he had issued fraudulent opinion letters for the handling of investments. He appeared to choke up Monday when the judge walked him through the procedures and consequences of his guilty plea.
March 16, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A former McGuireWoods partner admitted Monday to using his position as counsel to small companies to make $10 million in illegal profits.
One-time securities lawyer Louis W. Zehil pleaded guilty to securities fraud and conspiracy to commit securities fraud before Southern District of New York Judge Deborah A. Batts, admitting he used his position as counsel for several companies to secretly buy and then sell millions of shares at favorable prices.
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