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Former partner faces prison term
A former partner at a New York law firm has been sentenced after pleading guilty to milking his firm and clients out of several hundred thousands of dollars.
Olivia Collings
A former partner at a New York law firm has been sentenced after pleading guilty to milking his firm and clients out of several hundred thousands of dollars.
Samuel Fishman, who worked at Latham & Watkins LLP, will spend up to 15 months in prison, followed by three years of supervised release for his crimes and was ordered to pay a $10,000 fine and $350,000 in restitution.
Fishman, pleaded guilty in March 2008 to one count of mail fraud in a scheme in which prosecutors said he mischaracterised more than $200,000 worth of client expenses as reimbursable and also sent bills that inflated actual costs incurred by the firm by more than $100,000.
The law firm “expeditiously” reimbursed its clients after discovering the scheme, according to court papers.
Fishman resigned from Latham & Watkins when the issues were discovered in 2005, the firm has previously said.
Prosecutors said Fishman was the billing partner for a number of the firm’s institutional clients, including clients in banking, utilities, telecommunications and entertainment.
It was alleged that, between 1993 and 2005, Fishman mischaracterised expenses such as non-reimbursable meals and parking fees as well as reimbursable expenses.
