June 9, 2010 - An attorney from one of the Twin Cities’ best-known law firms pleaded guilty today in federal court in Minneapolis to embezzling approximately $2 million from his clients and the firm. Appearing before United States District Court Judge David S. Doty, Michael Scott Margulies, age 56, of Minneapolis, pleaded guilty to one count of wire fraud in connection to his crime.
Margulies was a partner at the Lindquist & Vennum law firm in Minneapolis, where he worked from 1987 until he was fired, after the firm discovered the embezzlement earlier this year. He was charged on May 26, 2010.
In his plea agreement, Margulies admitted that from 1994 through 2010, he embezzled approximately $2 million through false documentation, including fraudulent expense reports and invoices, as well as forged checks.
For his crime, Margulies, who had been practicing law since 1978, faces a potential maximum penalty of 20 years in federal prison. Judge Doty will determine his sentence at a future hearing, yet to be scheduled.
This case is the result of an investigation by the Federal Bureau of Investigation. It is being prosecuted by Assistant U.S. Attorney Joe Dixon.
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