Former Twin Cities lawyer pleads guilty of cheating firm
National News
Former Twin Cities attorney Michael S. Margulies pleaded guilty in federal court Tuesday to wire fraud, admitting that he embezzled $2 million from his former law firm and its clients.
The plea was the result of a deal Margulies, 56, struck with federal prosecutors. U.S. District Judge David Doty accepted the plea and ordered a presentence investigation to help him decide what punishment the former real estate attorney should get when he's sentenced.
Federal sentencing guidelines call for a maximum of 20 years in prison on wire fraud.
Margulies was released until sentencing, with no date set.
The plea came 13 days after Margulies was charged with a single count of wire fraud. The felony charge was the most recent event in a fallen career.
Margulies had been a partner at Lindquist & Vennum, one of the Twin Cities' most prestigious law firms, and he lived in a $1.5 million mansion on St. Paul's Summit Avenue. He was a member of the St. Paul Planning Commission and served on the board of the Children's Theatre Company in Minneapolis.
But in March, his law partners determined he was taking money from the firm and some of its clients. They fired him and reported the alleged thefts to authorities. The Minnesota Supreme Court disbarred him in April.
The criminal charge said that from 1994 to this year, Margulies embezzled about $2 million through false documents, false expenses, false invoices and forged checks.
Related listings
-
Weinberg Law Firm - Dallas Employment Law
National News 05/29/2010Overtime claims and compliance Wage and hour matters usually manifest when disgruntled employees feel they have not been compensated properly for their work. Often, wage and hour matters are brought forth by employees who have been terminated, ...
-
Stevens denies Blagojevich request for delay
National News 05/29/2010The Supreme Court on Friday refused to delay ousted Illinois Gov. Rod Blagojevich's trial on corruption charges, set to begin next week.Justice John Paul Stevens rejected Blagojevich's request without comment. His decision came shortly after the Obam...
-
As immigration fades, Emanuel role under scrutiny
National News 05/24/2010Prospects for an immigration overhaul are fizzling this year and some Democratic lawmakers are focusing blame on the pugnacious Democratic operative who works just down the hall from President Obama.Rahm Emanuel, White House chief of staff and longti...
Chicago Business Fraud Attorney
Business Fraud can take many forms. In the broadest terms, a fraud occurs when someone intentionally deceives others for personal gain. Many times business fraud is harmful and recovery is necessary. Losing your personal or business’s assets can devastate your entire life. Contact Roth Law Groupto receive help on restoring your business to normalcy before you were victimized with fraud. Business fraud cases can involve multiple people and complicated schemes aimed at deceiving the public, auditors, investigators, or others. Whether you are dealing with corporate fraud or commercial fraud, we can step in and fight back to receive compensation that you deserve.
At Roth Law Group we are devoted to prosecuting and defending the legal rights of individuals and small businesses, as either plaintiff or defendant. Proving fraud can be extremely difficult. To have a successful business fraud case, one must prove that the defendant purposefully set out to defraud the victim. Fraud cases are being investigated more aggressively than ever. With increasing federal regulation and scrutiny of corporate practises, many individuals and businesses find themselves the subject of business fraud investigations.