On October 2nd Douglas Arntsen ended a year of legal strife, entering a guilty plea acknowledging that be stole over $10 million from clients of his previous law firm Crowell & Moring. Prosecutors allege that Arntsen used the stolen funds on fancy dinners and strip clubs since he began skimming money into personal accounts in 2009.
Arntsen has been in jail without bail since January when he was returned to the United States in the custody of federal officials after fleeing to Hong Kong last September when his firm learned he was under criminal investigation.
Arntsen accepts responsibility for the several counts of grand larceny and scheme to defraud, and after his sentencing in October, he could serve between four and twelve years in prison to atone for violating the law, abusing his client’s trust, and subjecting his former firm to three civil lawsuits related to his fraud. A statement from the Crowell & Morning’s managing partner Ellen Dwyer confirmed that their, “clients and our firm and are pleased Mr. Arntsen has acknowledged his crimes with a guilty plea.”