Arkansas class-action attorney Steven Eugene Cauley was sentenced by a New York judge to seven years and two months in prison after admitting that he stole $9.3 million from client escrow accounts he controlled.
Cauley, who pleaded guilty in June to fraud and criminal contempt, stole money that he held in escrow from the proceeds of a class-action lawsuit against The BYSIS Group Inc., a Roseland, New Jersey-based insurance-services firm that services insurance companies. Cauley’s former Little Rock, Arkansas-based law firm, Cauley Bowman Carney & Williams PLLC, was among the lead attorneys in the 2004 class-action, or group, lawsuit.
Cauley, who has surrendered his law license, joins other attorneys who’ve been jailed for felonies. Marc Dreier, founder of New York’s Dreier LLP, is serving 20 years in prison for selling $700 million in phony promissory notes. Ex-Milberg Weiss Bershad & Shulman partners Mel Weiss, Bill Lerach, David Bershad and Steven Schulman were sent to prison in a kickback scheme.
Full Article and Source:
Arkansas Lawyer Cauley Gets Seven Years for Fraud
Disbarred Lawyer Confesses