Mayer Brown partner Joseph Collins has been found guilty of conspiracy and four other charges in connection with a massive fraud at now-bankrupt Refco, writes the New York Law Journal.

Collins, who testified that he was kept in the dark about more than $2.4bn (£1.5bn) in debt hidden by officials at the financial services firm, bowed his head as the jury foreman gave the verdict to Southern District of New York Judge Robert Patterson on 10 July.

The verdict came during the seventh day of deliberations by the jury, who had sitting on the case for nearly two months. Citing "acrimony" among jury members, Judge Patterson insisted each be polled to ensure no votes were cast under duress.

Collins was convicted of a single count of conspiracy to commit securities fraud, bank fraud, wire fraud, money laundering and make false filings with the Securities and Exchange Commission, and four substantive counts – two each of securities fraud and wire fraud.

Collins, who will be sentenced on 3 November, technically faces a maximum of five years on the conspiracy count and 20 years on each of the substantive counts. However, he is likely to receive far less.

The conviction of Collins, who is on leave from Mayer Brown, where he headed the firm's derivatives group, came with the assistance of Refco's ex-chief financial officer, Robert Trosten, and former executive vice-president Santo Maggio.

Both men have pleaded guilty and are awaiting sentencing. Former Refco chairman and chief executive Phillip Bennett pleaded guilty in the case and is serving 16 years in prison.