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Will Brown University’s Highest-Profile Trustee Be the Next One to Go to Jail, Now That…

… yet another of his employees (the career fraudster Michael Martoma) has been found guilty of insider trading? That’s the question on everyone’s mind.

“From a public perception, how do you go after all of the subordinates, but stop before getting to the guy on top,” asks trial lawyer Thomas Rohback, a partner and chairman of the litigation group at Axinn, Veltrop & Harkrider. “If somebody is a billionaire, and you’re sending other people that have worked for him to prison, isn’t there something lacking if you don’t bring the possibility of a jail sentence against that person,” continues Rohback.

… Under Dodd-Frank, the statue of limitations for financial crimes was extended to six years, from five previously, meaning Bharara and his team still have time to bring criminal charges against Cohen.

Board of trustees meetings at Brown must be awfully… awkward lately…

“So Steve any inside scoops on potential donors for the new arts center? …Ahem! … I mean… haha! … Any ideas…?”

Brown just can’t let him go yet. His fellow trustees sit across from him at that big ol’ conference table and whenever they look at him, whenever he opens his mouth, they’re all thinking the same thing:


It’s just too much. They’ll hold onto him because they figure he will never go to jail because they figure there MUST be a law in the United States that says something like once you’re worth seven or more billion dollars you cannot be jailed because your legal status is no longer person. Something like that. You’re like a Gross National Product. Your legal status has actually changed and you’re actually too rich to go to prison. It’s like at some point you’re too rich to die. What’s that line from White Noise?… Babette says, of the very rich: “I have trouble imagining death at that income level.” It’s like – if Madoff hadn’t had to give it all back, he’d have been too rich to go to prison… Yeah, good ol’ Steve! He won’t go to jail. And if we hold onto him some day he’ll give Brown say one billion say…

Margaret Soltan, February 6, 2014 7:07PM
Posted in: code brown

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