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Wall Street Lawyer Charged by U.S. Attorney
The U.S. Attorney's office in Manhattan has charged a former Sullivan and Cromwell partner over unpaid taxes. John J. O'Brien, who specialized in corporate mergers and acquisitions at the Wall Street law firm, was charged Wednesday with 4 misdemeanor counts for willfully failing to file and pay tax returns.
For the tax years 2001 through 2008, Mr. O'Brien was paid about $10.8 million, failed to file and pay tax returns for any of those years, according to information filed in Manhattan federal court. Instead, he allegedly used the unreported partnership money to pay for personal expenses, including the purchase of a weekend home, international travel, and the funding of a rare-book business.
O'Brien left Sullivan and Cromwell in March 2009; a spokesperson for the firm declined to comment. The case is U.S. v. John J. O'Brien, U.S. District Court, Southern District of New York, No. 11-652. [Reuters, 8/4/11]

