"Thomas Sjoblom resigned from Proskauer Rose in August, according to the National Law Journal. Sjoblom, as you’ll recall, is the lawyer who stood next to Stanford Capital CIO Laura Pendergest-Holt while she was meeting with the SEC. She thought he was her lawyer, he gave a less-than-clear answer that he represented her to the extent it was covered by his representation of the client. She sued him and the firm in March and has since been indicted on obstruction charges.
That wasn’t enough to scare Sjoblom off, though. He held on for a few more months.
His resignation, a fascinating client of his, and the background of the other lawyer who has resigned in the scandal after the jump.
Sjoblom, a white-collar litigator who spent 20 years at the SEC, resigned in the wake of the guilty plea by former Stanford CFO James Davis. That plea “appeared to implicate Sjoblom in a conspiracy to thwart a U.S. Securities and Exchange Commission investigation into the alleged fraud.” Between the SEC and Proskauer, he was also a partner at Chadbourne & Parke, which has since been added as a defendant in a suit by investors claiming that the firms (through Sjoblom) assisted Stanford in perpetrating a fraud.
In addition to adding Chadbourne, the class action also added Mauricio Alvarado, the company’s former general counsel, as a defendant. Alvarado was a lawyer in Colombia before coming to the US to get law degrees. Curiously, he first got an LLM from LSU, in “International Documentary Credit Transactions” in 1988. He then went and got his JD from South Texas College of Law in 1990. While he was studying for his JD he was an associate at Vinson & Elkins, though. He left V&E in 1991 for Amoco, where he stayed until 1999.
Sjoblom’s profile has obviously been removed from the firm’s site, but as we so often say, thanks to the wonders of the Internet Archive, nothing is ever lost. You can see his last profile, which was current as of July 3, here.
Sjoblom has a number of interesting clients. Our favorite is Martin Armstrong, who was just profiled in the New Yorker last week. Armstrong spent seven years in jail on civil contempt charges without a trial and then was sentenced to five more for defrauding Japanese Investors. But what really makes him interesting is his fascination with cycles
[Armstrong] opened a forecasting firm called Princeton Economics International, based in Princeton, New Jersey. His model singled out, in advance, the day of the October, 1987, crash. “Never did I expect this to work on such a precise time level,” he wrote later, in an essay called “Understanding the Real Economy.” “It made no sense. I personally assumed it was just a fluke. This took place on the minor halfway point up the first leg of the 8.6-year cycle, at 2.15 years.”
Afterward, he was messing around with numbers and realized that 8.6 years was exactly three thousand one hundred and forty-one days: 3,141, the number pi times a thousand. The cycle mystery had deepened. If pi was essential to the physical world, perhaps it somehow governed the markets, or the fluctuations in human behavior and mood that manifested themselves in the markets.
It was, after all, the magic number associated with the swing of a pendulum, Heisenberg’s uncertainty principle, and the Great Pyramid at Giza. Why not the vast monuments of data known as the financial markets? “Suddenly I saw it in my mind’s eye,” he wrote. “There was a Geometry of Time itself.
And the story just gets better from there, with the CIA, the Japanese investors, and the Fibonacci sequence all making appearances. "
Source of Thomas Sjoblom, Proskauer Rose Post
http://lawshucks.com/2009/10/sjoblom-resigned-from-proskauer/
Got a Tip?
Crystal@CrystalCox.com
No comments:
Post a Comment