More From Eric Dixon at

Support Independent Investigations With Bitcoin:
Send Bitcoin Here: 171GMeYRD7CaY6tkXs8dSTjLbAtFazxhVL

Top 50 Twitter Rank of Worldwide Startup Advisors For Much of 2014
. Go to my professional site for solutions to your legal, business and strategic problems. The only lawyer who is a co-inventor of multiple, allowed-for-grant patents on blockchain technology!!! Blockchain and Digital Currency Protocol Development --
Top Strategic Judgment -- When You Need A Fixer -- Explore Information Protection and Cryptographic Security -- MUST-WIN: JUST DON'T LOSE -- SURVIVE!: Under Investigation? Being Sued? Handling Extreme Stress -- Corporate Issues -- Startup Issues -- Investor Issues -- Contracts To Meet Your Needs -- Opposition Research -- Intellectual Property, Media and Reputation Issues -- Independent, top-notch legal, strategic and personal advice -- Extensive ghostwriting, speechwriting, book writing, issue research, press and crisis management services. Listed by American Bar Association's Law Bloggers (Blawgers). Contact European Union audiences: This site uses a third party site administrator which may use cookies but this site is intended for AMERICAN clients and prospective clients only!

Friday, March 4, 2011

Is Lloyd Blankfein a Crook?

Has Goldman Sachs chief executive officer Lloyd Blankfein been caught doing something criminal?

That would be one plausible explanation for his reported agreement to testify as a witness for the federal government in its upcoming criminal trial of Galleon Group founder Raj Rajaratnam.

Rajaratnam faces several criminal counts for insider trading.

With the exception of bonafide victims (such as victims of violent crimes) whose testimony is often essential for conviction, most witnesses for the government testify because their testimony is part of a "deal" to either spare them from prosecution -- through a non-prosecution or immunity agreement -- or as part of either fact bargaining (admitting certain facts but being allowed to conceal other possible crimes) or plea bargaining in which a crime will be admitted but the witness seeks leniency when sentenced.   An immunity agreement almost always means the witness either admitted to something criminal or could be at risk of being charged criminally (but is not necessarily guilty).

Sometimes the people trying to wear the white hats turn out to also have been criminals.  Remember the story of wannabe Enron whistleblower Sherron Watkins, who made plenty of money and fame by pretending to be the Enron do-gooder.  The bloom came off the rose when she had to testify against Ken Lay and Jeff Skilling, and admitted on cross-examination that she had been granted immunity -- for insider trading.

In other words, Ms. Watkins committed illegal, criminal insider trading.  

Back to Blankfein: Why is he testifying?  Is he really some civic-minded do-gooder -- or another Wall Street crook, albeit one connected to a powerful firm and enjoying the prestige of a pedigree?  Should he testify, we should find out.

Eric Dixon is a New York lawyer.  This article is not legal advice and is only an opinion.   

1 comment:

  1. not only is he a crook he was laughing in the toilets while at a hearing to members of congress.he is literally taking the piss out of the american administaration.