Miscellaneous

Second Time's the Charm

Israel G. Grossman is a helluva guy. Seems that the attorney thought it would be a good idea to pass confidential financial information to his friends and family, information that got them about $1.5 million in profits. And well, yeah, turns out the government frowns on that sorta shit. So back in 1987, Grossman was convicted for charges related to insider trading, and was told he owed the SEC a cool $2.5 million. He also got himself disbarred, since lawyers kinda aren't supposed to do this kind of thing.

But then he got himself reinstated to the bar in 2003.

And now he's been disbarred again. Turns out the Bar frowns on folks lying on applications. For example, when an application asks if you've been convicted for violating investment-related statutes, insider trading usually counts. And when you apply for reinstatement to the bar and conveniently forget to mention those applications you lied on? That's a tasty double-fraud sandwich right there.

Full post as published by Quiz Law on March 25, 2008 (boomark / email).