A former New York law firm partner who allegedly made almost $18 million trading in the securities of his clients has been arrested on fraud charges.

Louis W. Zehil, until Feb. 16 a partner in the New York office of Richmond, Va.’s McGuireWoods, allegedly used his position as issuer’s counsel in seven private placement transactions occurring between January 2006 and last month to accumulate millions of discounted shares, absent the sale restrictions such discounts generally entail. He allegedly sold the stocks at a vast profit.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]