EXPERIENCE

As an Assistant U.S. Attorney in the Southern District of New York, Richard led and oversaw the investigation and prosecution of a wide array of white collar matters, including accounting fraud, insider trading, market manipulation and other sophisticated financial frauds, cybercrimes, public corruption, Foreign Corrupt Practices Act (FCPA) violations, criminal tax offenses and healthcare fraud.

Since leaving government service in 2015, Richard has represented a wide variety of clients, including corporations, investment firms, boards of directors, senior executives and other prominent individuals, in some of the nation’s highest-profile and most sensitive criminal and regulatory matters. Some of Richard’s notable recent representations include:

• the former CEO of Iconix Brand Group, Inc., at a four week criminal trial that concluded in November 2021 with an acquittal on two counts (including the top count) and a hung jury on the remaining counts, all involving financial reporting issues, as well as in related civil litigation;
• the founder and former CEO of Premium Point Investments, a multi-billion-dollar hedge fund, in a criminal securities fraud trial involving allegations of mismarking—in which the court granted a motion for a new trial based on evidence unearthed by the defense team following trial, leading to a successful resolution;
• the CEO of a private equity portfolio company in an SEC insider trading investigation that was terminated with no enforcement action even though the SEC Staff had issued a Wells notice;
• Leon Cooperman and Omega Advisors in an insider trading lawsuit brought by the SEC – the case was settled on a no-admit no-deny basis with no industry bar;
• a former senior government official and cabinet member in connection with a DOJ Inspector General review and Congressional investigations relating to the 2016 Presidential election;
• one of the world’s largest technology companies and several executives in connection with an SEC investigation relating to accounting and financial reporting issues – the investigation was terminated without any enforcement action;
• The National Football League in connection with the administration of its landmark concussion litigation class action settlement;
• The Philadelphia 76ers in an internal investigation relating to the use of certain anonymous Twitter accounts to post information concerning the club, its personnel and related topics;
• a prominent hedge fund in litigation arising out of Robinhood’s decision to restrict trading in GameStop and other “meme” stocks.
• a leading private equity firm in connection with two SEC investigations relating to certain trading activities – the investigations were both terminated without any enforcement action;
• World Wrestling Entertainment, Inc. in connection with a securities class action lawsuit relating to disclosures about media rights agreements;
• a multi-billion dollar hedge fund in connection with an SEC insider trading investigation;
• the board of directors of a public company in connection with an SEC investigation concerning accounting and financial reporting;
• the audit committee of the board of directors of a public company in connection with parallel criminal and SEC investigations of alleged FCPA violations;
• a CEO and prominent philanthropist in connection with a criminal investigation concerning the alleged bribery of a public official;
• a not-for-profit institution in connection with whistleblower allegations; and
• a global financial institution in investigations of its compliance with Bank Secrecy Act/anti-money laundering requirements.

During his eight-year tenure as a federal prosecutor, Richard conducted numerous trials, including some of the most significant and high-profile securities fraud cases in the country, and handled numerous appeals before the U.S. Court of Appeals for the Second Circuit. He also received the Department of Justice Director’s Award for Superior Performance. His matters included:

• U.S. v. Rajat Gupta: co-lead counsel in the investigation and trial of the former Goldman Sachs director and chair of McKinsey & Co. for insider trading;
• U.S. v. Zvi Goffer, et al.: co-lead counsel in the investigation and trial of proprietary traders who bribed attorneys at international law firm for nonpublic information about mergers and acquisitions; and
• U.S. v. Todd Newman, et al.: co-lead counsel in the investigation and trial of several hedge fund portfolio managers and analysts for insider trading. 

Prior to his service as a federal prosecutor, Richard focused on white collar and regulatory defense and internal investigations at a New York City law firm. Richard is ranked in Chambers USA in the category of White–Collar Crime & Government Investigations and is recommended by The Legal 500 for Corporate Investigations and White-Collar Criminal Defense. He was also named a Rising Star by the New York Law Journal in 2014. Richard is a member of the Board of the Federal Bar Council and recently served as Co-Chair of the UJA White Collar & Securities Enforcement Group.