Shkreli Co-Conspirator Lawyer Must Use 401(k) for Restitution

A former Katten Muchin Rosenman LLP lawyer convicted of conspiring with Martin Shkreli to commit securities fraud can be forced to put part of his $921,000 retirement accounts toward his $10.4 million restitution order, the Second Circuit ruled Wednesday.

Evan Greebel’s 401(k) accounts from his years working at Katten and at Fried, Frank, Harris, Shriver & Jacobson LLP are subject to garnishment under the Mandatory Victims Restitution Act, the US Court of Appeals for the Second Circuit held. The MVRA permits garnishment of retirement savings that would otherwise be protected by the Employee Retirement Income Security Act, the court said. ...