This is turning into a bit of perp-walk week, following yesterday’s arrest of a Goldman Sachs/Sidley lawyer who was soliciting a minor over the internet.
Then we got word of four friends who were arrested in New York for a “brazen” scam – they opened bank accounts, withdrew the money, then put in claims that the money had been lost or stolen. All told, they allegedly stole $422,000 on $700,000 in claims.
According to the Daily News, the “beaut of a scam” hinged on a “little-known federal regulation.”
Hmm… where does one learn about such things? BigLaw perhaps? Indeed!
One of the people charged was a BigLaw veteran, who may have actually figured this scam out on the job.
Three of the four arrested, Eric Manganelli, Lam Dang, and John Tluczek, went to NYU together. The fourth was Tluczek’s wife Marzena. Dang and the two Tluczeks are “in finance.”
The other, and the hero of the story from our perspective, is Manganelli – the lawyer.
Manganelli stuck around the Village for law school, graduating in 1998. He did a turn at the Queens DA and a small firm before joining Morgan Lewis in May 2000. He stayed there until March 2003.
His LinkedIn profile says he turned up at a small firm called Lankler & Carragher a few years later and still works there, but his bio has been taken down.
Fortunately, we’ve got the Internet Archive. Here’s his last bio from that firm:
Eric joined Lankler & Carragher, LLP in 2005 after serving for almost three years as General Counsel for a privately owned asset management and investment company. Eric’s prior legal experience includes practicing commercial litigation in the New York office of Morgan, Lewis & Bockius, LLP, and also at the firm of Parker Chapin, LLP.
Eric has extensive commercial litigation experience in the areas of consumer fraud, securities, class-action, and general commercial matters, and has provided legal service and advice to many Fortune-100 companies. Eric has also been engaged in arbitration before the NASD and NYSE, and has defended clients against various State Attorneys General.
Eric graduated from New York University School of Law where he was elected Senator and Treasurer of the Student Bar Association, and served on the Executive Board of the NYU chapter of the Federalist Society.
Eric worked as a legal intern for the Queens County District Attorney’s Office during Undergraduate and Law School and has been a high-ranking member of political campaigns on the state and federal levels.
Eric is admitted to practice in New York State as well as the United States District Court for the Southern District of New York.
According to the Daily News, “Using something known in the banking world as Regulation E of the Federal Electronic Funds Transfer Act, the four cleaned out their accounts and put in claims for $700,000 over five years.”
Did you notice Manganelli’s fortuitous combination of experience? Securities, consumer fraud, and the DA’s office?
Too bad he didn’t know the banks have massive databases, pattern-recognition algorithms, and, oh yeah, the ability to pick up the phone and talk to other banks about investigations.
For some reason, that “privately owned asset management and investment company” isn’t listed in the LinkedIn bio, nor is the gap explained. Is that a euphemism for laid off and spending family money?