Thursday, December 27, 2007

The Injustice Department Goes Hollywood

"At all times relevant to this Indictment, Refco was represented by a large well-known law firm (the 'Law Firm'). At all times relevant to this Indictment, the Law Firm maintained offices throughout the United States and the world, including New York, New York", P 3.

"At all times relevant to this indictment, JOSEPH P. COLLINS, the defendant, was a partner at the Law Firm. ... At all times relevant to this Indictment, Refco was the most significant client of JOSEPH P. COLLINS, the defendant. ... From in or about 1997 through in or about 2005, COLLIN's relationship with Refco resulted in at least approximately $40 million in fees being invoiced by the Law Firm to Refco", P 4.

"In connection with the LBO transaction, JOSEPH P. COLLINS, the defendant, and other attorneys at the Law Firm represented both Refco and RGHI", P 30.

"COLLINS and others made representations and drafted documents (or caused other Law Firm attorneys to draft documents), and negotiated contract terms that concealed from Thomas H. Lee Partners and its representatives the following related party transactions, among others", P 36.

The P's are Indictment paragraph numbers. Michael Garcia (MG) likely has a promising career ahead of him as a Hollywood script writer. I read Collins's 55-page indictment and noticed the "Law Firm" was not named. The Indictment reads like a John Grisham novel. The Indictment may help the "Law Firm". It may be used in "Law Firm" recruiting literature to help attract new law school graduates. The "Law Firm" can say, "We're famous. The US's most famous law firm. We were the subject of a best selling novel and movie that got two Academy Award nominations. If you join us, you can become famous too. We even have our own Law Firm dance, the 'Perp Walk'." Seriously, since Collins and "other attorneys at the Law Firm" apparently knew of the transactions in question, why wasn't the "Law Firm" indicted? Or is that coming in MG's next "novel"?

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