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GlobeSt.com UPDATE: New York Law Firm Sued in Evergreen Scam Case

ORLANDO-U.S. Bankruptcy Court Trustee Bill Cuthill Jr.'s suit alleges Windels, Marx, Lane & Mittendorf should have known that one of its lawyers, James P. Conroy, was part of the defunct Orlando firm's 10-year scheme to sell unregistered mortgage-backed securities to 2,203 global investors that resulted in $214 million Evergreen Security Ltd. couldn't account for.

By Alex Finkelstein | Updated on August 11, 2002

ORLANDO-New York-based Windels, Marx, Lane & Mittendorf is the first law firm sued in the alleged $214 million mortgage-backed securities fraud pulled off by the defunct Evergreen Security Ltd. which U.S. Bankruptcy Court Trustee Bill Cuthill alleges bilked 2,203 global investors over a 10-year period.

Officials at the law firm couldn’t be reached by GlobeSt.com at publication deadline. But lawyers familiar with the case tell GlobeSt.com the firm denies any wrongdoing and is preparing a court-filed response to the charges.

Evergreen’s scheme unraveled Jan. 1, 2001 when the securities firm voluntarily filed for protection from creditors under the U.S. Bankruptcy Code. Eighty firms and individuals have been sued to date in 12 separate civil lawsuits.

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