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Summary: Richard Tarlowe, a federal prosecutor, will join Paul Weiss’ litigation department to focus on online security, foreign corrupt practices, and white-collar defense.
In roughly a year and a half, federal prosecutor Richard Tarlowe, 39, secured six insider trading convictions, achieving significant milestones in a lengthy investigation. Tarlowe currently serves as the head of the complex frauds and cybercrime unit at the United States’ attorney’s office in Manhattan.
However, the New York Times reports that Tarlowe will say goodbye to the world of prosecution as he joins a private firm. Tarlowe will join the litigation department of Paul, Weiss, Rifkind, Wharton & Garrison. Tarlowe’s practice will center on online security, foreign corrupt practices cases, and white-collar criminal defense. According to Wikipedia, Paul Weiss has offices worldwide, including London and Tokyo.
After graduating from Harvard Law School, Tarlowe worked at Goldman Sachs. He joins several other federal prosecutors who are leaving government work for the private sector. Just last month, three federal prosecutors began practicing with Boies, Schiller & Flexner.
As for Tarlowe’s decision to make the switch, he said that he chose Paul Weiss because of its litigation track record, which he was very familiar with during his days as a federal prosecutor. Many of Paul Weiss’ Wall Street clients, such as SAC Capital, a hedge fund, were subject to federal investigation.
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In one insider trading case, post-its were used to exchange information.
Tarlowe said, “I feel very honored about the opportunity,” and that he believes “there’s no firm in the world that has a stronger litigation or white-collar defense practice.”
Although many of the cases at Paul Weiss deal with Wall Street, Tarlowe said he was also attracted to the diverse nature of the overall caseload at the firm. For example, the firm is handling the investigation into “Deflategate,” the recent scandal in which the New England Patriots used under inflated footballs during a game.
Loading ...In addition, Tarlowe will also work with his former supervisor, Lorin L. Reisner. Reisner was the head of the criminal division at the United States attorneys’ office in Manhattan until he was hired at Paul Weiss.
Read about when Reisner was hired at Paul Weiss here.
Theodore V. Wells Jr., a litigator with the firm who has represented Eliot Spitzer, said, “It is critical that Paul Weiss continues to recruit star talent for the white-collar group in order to support our pre-eminent platform in this area. We are very conscious about issues of succession.”
He also noted that while Tarlowe most recently practiced in digital crime and other complex fraud cases, that “this is not a niche hire.”
The hiring comes at the same time as investigations into Wall Street heat up. As clients at law firms are probed, many prestigious firms in New York City have recruited prosecutors to join their teams. Brad S. Karp, the chairman of Paul Weiss, said, “Given the unprecedented scrutiny of Wall Street and other industries, we are thrilled to add someone of Rich’s talents to our firm.”
A former managing clerk of Simpson Thacher & Bartlett has been charged with insider trading.
Tarlowe prosecuted several major Wall Street cases during his eight years at the United States’ attorney’s office. His prosecution of six insider trading cases led to the conviction of Rajat K. Gupta, the former director of Goldman Sachs who was accused of revealing boardroom secrets. In addition, he was also a part of the legal team that convicted Todd Newman and Anthony Chiasson. Coincidentally, those convictions have recently been overturned, and Paul Weiss had assisted with Chiasson’s appeal.
Source: New York Times
Photo credit: copyrightalliance.org
