Joseph P. Collins, a onetime Mayer Brown partner and counsel to Refco Inc., was sentenced to seven years in prison today, the WSJ reports. Collins was convicted in July 2009 for helping Refco to conceal its financial troubles and to allegedly steal more than $2 billion.
U.S. District Judge Robert P. Paterson (SDNY) stated that he viewed the case as one of “excessive loyalty to his client.” The jury convicted Mr. Collins of conspiracy, two counts of securities fraud and two counts of wire fraud, with a mistrial declared on nine other counts. Collins plans to appeal the convictions.
