Gene Cauley
It looks like the disgraced former Little Rock attorney Steven “Gene” Cauley is making plans to return to Arkansas as his 86-month federal prison is winding down.
The 46-year-old is on track to be released to his wife’s Hot Springs home, according to a recent report on file from the probation department of U.S. District Court in New York.
It’s unclear when exactly he’ll be released, however. The probation officer didn’t return calls for comment. Cauley’s prison sentence ends April 20, 2016, and he’s currently housed in the federal pen at Pollock, Louisiana.
The probation office filed the report so Cauley’s probation could be modified to require him to pay 10 percent of his gross monthly income toward his restitution. In November 2009, he was sentenced to prison for stealing $9.3 million from a client trust account. He was ordered to repay the money, but he has barely made a dent in the balance.
Still, the probation report looks promising for Cauley to land a job once he’s back in the free world.
“Inmate Cauley has extensive contact within the state of Arkansas, in the field of commercial real-estate, investment brokerage, real-estate development, banking, and finance as well as law,” the probation report said. “Upon release, he expects to secure employment within one of the aforementioned disciplines.”
If he can’t find work, Cauley told the probation officer, his family will help him make the restitution payments.
It’s unclear what job Cauley might get in the legal field, but we know it won’t be as an attorney. In 2009, Cauley, who specialized in class-action securities cases, surrendered the law license he earned in 1994.
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