Kramer Levin represented a former Deutsche Bank AG broker accused of participating in one of the largest tax frauds in U.S. history, in a tax fraud case brought by the U.S. attorney for the Southern District of New York.
In November 2015, prosecutors agreed our client will not have to face retrial and all charges against him will be dropped. In 2011, he had been convicted on two counts of tax fraud, sentenced to 42 months in prison and ordered to pay $190 million in restitution. When that conviction was overturned on appeal in 2015, he retained Kramer Levin to represent him for the retrial. In the first trial, Kramer Levin represented one of his co-defendants, who was the only defendant of the five on trial to be acquitted of all charges.
Prior to agreeing to drop the case against the former Deutsche Bank broker, the government won eight trial convictions or guilty pleas in related cases. The Wall Street Journal described the deferred prosecution agreement Kramer Levin secured as a “rare settlement” of a white collar case involving an individual defendant. It is even rarer for a single law firm to obtain vindication for two separate defendants in the same white collar criminal prosecution.