White-Collar Crime
Ex-Latham Practice Head Gets 15 Months in Client Expense Fraud Case
Posted Jun 26, 2009, 04:55 pm CST
By Martha Neil
In a sad day for a former partner at Latham & Watkins and his family, he has been sentenced to 15 months in federal prison after expressing contrition for bilking the firm and clients in a six-figure expense fraud in which he mischaracterized personal bills and nonreimbursable work-related costs.
Samuel Fishman pleaded guilty last year to one count of mail fraud in the Manhattan federal court case. His sentence also includes three years of supervised release after he completes his prison term, a $10,000 fine and restitution of $350,000, reports Dow Jones Newswires (sub. req.).
Fishman, who headed several practice groups and served as billing partner in a number of matters while working at Latham's office in New York, falsely claimed more than $200,000 in nonreimbursable costs, such as meals, parking and personal hotel bills, to be reimbursable client expenses, according to prosecutors in the case. He also allegedly sent bills to clients that padded actual expenses by more than $100,000, the news agency recounts.
His claimed expense-padding took place between 1993 and 2005, according to prosecutors. In his plea last year, Fishman admitted to misconduct between 2002 and 2005. The firm has reimbursed clients for their losses.
As discussed in a previous ABAJournal.com post, Latham & Watkins discovered the misconduct in 2005, confronted Fishman and notified authorities. Fishman then resigned.
"I wish I could find the words to adequately express how profoundly sorry I am for my disgraceful conduct," Fishman told U.S. District Judge Victor Marrero at a hearing today. "I am so ashamed. I am so ashamed for what I did. I bear tremendous guilt."
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