The news that Neil H. MacBride, the former U.S. Attorney for the Eastern District of Virginia, will be joining the law firm of Davis Polk & Wardwell and its White Collar Criminal Defense practice group highlights the continuing and growing significance of financial fraud law and all that it encompasses – including white collar criminal defense, securities law, government investigations, money laundering, the False Claims Act, the Foreign Corrupt Practices Act – to law firms and to their clients.
Indeed, reporting on MacBride’s move, Peter Lattman just wrote in The New York Times:
Never before has white-collar criminal defense work been so profitable. Internal corporate investigations, foreign bribery cases and defending executives from accusations of financial wrongdoing have flourished after the financial crisis.
Firms are desperately trying to fill that need. Consider the following recent moves by government lawyers to private law firms:
- Federal Prosecutor Jeffrey Alberts to Lead Pryor Cashman’s White Collar Defense Practice
- Martin Dunn, Former SEC Deputy Director, Joins Morrison & Foerster
- Former U.S. Attorney Mary Beth Buchanan Joins Bryan Cave’s White Collar Defense And Securities Enforcement Practices
- 2 Former Federal Prosecutors Go Private, Join Law Firms
- Former White House Independent Counsel Robert Ray Joins Fox Rothschild’s White Collar Compliance Group
- Former TARP Watchdog And Federal Prosecutor Neil Barofsky Joins Jenner & Block
This trend undoubtedly will continue in 2014 and beyond.
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