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...
Any contracts or any transactions can go awry at any time
We know your business means a lot to you and want to understand all the aspects of your business so that we can help you in the best ways possible. We don’t discriminate depending on the size of your company. Our mission statement is to represent all business owners and entrepreneurs by navigating them through the rough waters of business litigation and guiding them to success.
We are attorneys who want to make sure we understand your business objectives and goals before we start providing you with legal counsel individualized to your business. We know what it means to be dedicated to your business. After all, we are a business as well. And just like you, we want to provide the best service we can to our clients.
Any contracts or any transactions can go awry at any time. Sometimes, making important business decisions without legal help from business attorneys could cost you your business.We don’t want you or your business to be misconstrued by anyone. Our attorneys make sure that we communicate with you often to make sure we are giving you the legal guidance you need at all times. We make sure we are responsive in a timely-manner with every single one of our clients to help them identify risks and prevent legal battles before they arise.