ALBANY – The right of criminal defendants to retain counseland the interests of allegedly defrauded investors to recover their moneyclashed in a high-profile upstate case involving two well-known investment brokers and their prominent attorneys.
Northern District U.S. Magistrate Judge David Homer, noting that defendants cannot pay their legal bills with someone else’s money, parsed the “tainted” and “untainted” assets of Timothy McGinn and David Smith, and unfroze some of the funds for attorney fees. However, Homer refused to free any of the assets of a trust to pay already incurred expenses, including legal bills.
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