Gene Cauley Reports to Federal Prison

by Gwen Moritz  on Monday, Jan. 25, 2010 5:18 pm  

Gene Cauley, the former lawyer from Little Rock, surrendered to the minimum-security federal prison camp at Florence, Colo., on Monday, the federal Bureau of Prisons confirmed, to begin serving an 86-month sentence for stealing $9.3 million from a client trust account.

Cauley has requested permanent assignment to the federal correctional facility at Texarkana.

Cauley pleaded guilty to wire fraud and criminal contempt of court on June 1, just six weeks after admitting to a New York judge that the money was missing from an account originally set up to hold the $65.875 million settlement he and other lawyers won for class-action clients who had invested in a company called The Bisys Group.

The 41-year-old, who had amassed a fortune touted at $100 million and been feted in 2005 as one of the National Law Journal's "40 Under 40," surrendered his law license in May.

 

 

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