A Rivkin Radler partner who describes himself as “the lottery lawyer” has been charged in a federal indictment with scheming to defraud three of his winning clients. The New York lawyer was accused of getting hundreds of thousands of dollars in kickbacks to invest lottery winners’ money in businesses deals and entities controlled by three other defendants.
The lawyer invested $107 million for three lottery winners, more than $80 million of which was stolen or lost, according to federal prosecutors in Brooklyn. The lawyer's lottery clients paid upfront fees ranging from $75,000 to $200,000, along with monthly fees of $15,000 to $50,000, the letter said.
According to prosecutors, the lawyer initially offered his lottery clients traditional investments. After the clients became comfortable with his advice, the lawyer offered different investment opportunities in entities that extended high-interest loans to small businesses and a company that sold personal protective equipment during the COVID-19 pandemic. Some of the money was funneled back to the victims and falsely presented as interest payments, while other funds paid the kickbacks and supported the defendants’ lavish lifestyles, according to prosecutors.
The lawyer and the three other defendants were charged with wire fraud, wire fraud conspiracy, money laundering and money laundering conspiracy. Kurland was also charged with honest services fraud.
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Category: Criminal Defense
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