find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Million regrets for high-rolling lawyer

Million regrets for high-rolling lawyer

_x000D_ A US lawyer who stole more than $US10 million of clients’ money can look forward to having many years behind bars to think about what he’s done.

A US lawyer who stole more than $US10 million of clients’ money can look forward to having many years behind bars to think about what he’s done.

Douglas Arntsen, who was an associate at major US firm Crowell & Moring from 2007 to 2011, could face up to 15 years in prison when he is sentenced on Wednesday (17 October).

Staying true to his old self-interested ways, Arntsen, 34, bargained with prosecutors in return for his guilty plea, RollOnFriday reported.

Last September, Arntsen resigned from Crowell & Moring at about the same time as one of the firm’s clients noticed money was missing from an account Arntsen looked after.

Two days later, not suspiciously at all, Arntsen took a trip to Hong Kong. 

Prosecutors accused Arntsen of leaving the country to dodge arrest, while his defence lawyer, Alan Lewis of Carter, Ledyard & Milburn, said he was merely taking a planned trip.

How convenient.

Arntsen was extradited back to the US at the end of last year to face a Manhattan courtroom and the usual prosecutor spiel about the “scared trust” between a lawyer and his client being broken - yet again.

Crooks like Arntsen just can’t help but polish the already stellar reputation of lawyers.

His arrest warrant shows he committed two counts of grand larceny in the first degree and one count of scheming to defraud; stealing property valued at more than one million dollars.

He reportedly invested the money of two major clients in err… diverse areas, including chip machines, dry cleaners, and, in true hustler style, a few pricey meals and, predictably, strippers.

Crowell & Moring’s managing partner, Ellen Dwyer, said the firm was "pleased" with the guilty plea. Folklaw doubts the firm is as pleased that Arntsen is yet to repay the $US10.8 million he owes clients.

Reuters reports that colleagues thought Arntsen a hardworking, good-natured fellow and that his arrest came as a shock to the firm.

The ex-associate reportedly wore a dark jacket in court to reflect his mood, and did not make so much as a whisper, except to say "Yes, Your Honour" throughout the hearing.

Folklaw presumes he left the courtroom with his tail between his legs, ready to face the doghouse.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Million regrets for high-rolling lawyer
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...