Record-Setting Securities Fraud Case

Montgomery McCracken negotiated the successful resolution of a criminal case in which the United States Attorney for the Western District of Pennsylvania charged an individual with numerous violations of the Investment Advisor’s Act. The losses in the matter were alleged to have been approximately $70 million, and the press described the case as the largest securities fraud case in Pennsylvania history. The firm filed numerous motions seeking to dismiss the indictment after our exhaustive investigation revealed that the government had lost evidence that may have favored the client. Before the motions were decided, the government agreed to a resolution of the matter favorable to our client.