Wall Street Top Cop to Resign After 3 Years as Trump Returns (2)

Manhattan US Attorney Damian Williams will resign on Dec. 13 after a three-year reign, as the leadership of the office known as the sheriff of Wall Street transitions to Donald Trump’s new administration.

Williams, 44, announced on Monday his plans to step down, a decision Bloomberg News previously reported. Deputy US Attorney Edward Kim will temporarily step into the top job after Williams leaves.

Read More: Wall Street’s Top Cop Plans to Exit Before Trump Takes Power

Trump announced earlier this month he would nominate former Securities and Exchange Commission chair Jay Clayton to lead the office.

Damian Williams

Photographer: Victor J. Blue/Bloomberg

New York’s Southern District, often called the Sovereign District for its independent streak, handles many high-profile financial fraud cases, as well as those alleging terrorism, organized crime and public corruption.

US attorneys, who prosecute civil and criminal cases for the federal government in 93 districts, are nominated by the president and must be approved by the Senate. They generally serve at the behest of specific administrations and depart upon a change.

‘Bittersweet’

Williams’ move closes a chapter of prominent white collar crime cases, including the prosecutions of FTX co-founder Sam Bankman-Fried and Archegos Capital Management founder Bill Hwang, both convicted of massive frauds following high-profile trials over the past year. In a statement, Williams called the decision to step down “bittersweet.”

“It is bitter in the sense that I am leaving my dream job, leading an institution I love that is filled with the finest public servants in the world,” he said. “It is sweet in that I am confident I am leaving at a time when the office is functioning at an incredibly high level – upholding and exceeding its already high standard of excellence, integrity and independence.”

Read More: Bill Hwang Sentenced to 18 Years in Prison in Archegos Case

Born in Brooklyn to parents who emigrated from Jamaica, Williams was nominated in 2021 by President Joe Biden and became the first Black prosecutor to head the Manhattan US attorney’s office in its history of more than two centuries, and one of the youngest.

Prior to his appointment, Williams had spent the previous three years directing the securities and commodities fraud task force at the office.

High-Profile Cases

Williams also oversaw the prosecution of New Jersey Democratic Senator Bob Menendez, who was convicted of bribery and extortion in July. His departure comes shortly after he charged New York City Mayor Eric Adams with accepting lavish travel perks and illegal campaign donations. Adams, who has pleaded not guilty, is scheduled to go on trial in April, just before the Democratic primary election for mayor. Menendez is set to be sentenced in late January.

Williams inherited an investigation into former New York Mayor Rudy Giuliani for possible undisclosed foreign lobbying on behalf of Ukrainian interests — which was later dropped — as well as the prosecution of Ghislaine Maxwell for enabling Jeffrey Epstein’s sex trafficking of young women.

He also took on a case against Nikola Corp. founder Trevor Milton. Milton was convicted of defrauding investors about the financial health and business prospects of the electric-truck maker and sentenced to four years in prison. He is appealing.

(Updates with quote from Williams and more details starting in paragraph five.)

To contact the reporters on this story:
Chris Dolmetsch in Federal Court in Manhattan at cdolmetsch@bloomberg.net;
Ava Benny-Morrison in New York at abennymorris@bloomberg.net

To contact the editors responsible for this story:
Misyrlena Egkolfopoulou at megkolfopoul@bloomberg.net

Peter Blumberg

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