WILL AN EX-NIXON PEABODY PARTNER GO TO JAIL FOR A DOZEN YEARS?
Prosecutors ask for a lengthy sentence for role in $20 million Ponzi scheme.
FORMER NIXON PEA-
body securities partner
convicted of backdating documents for a Beverly Hills
businessman as part of a $20 million Ponzi scheme should be sentenced to 12–15 years in prison,
according to a court document
filed by federal prosecutors in response to a U.S. Probation Office’s
The recommendation, filed
under seal in early July, found
that David Tamman, convicted
on November 13, 2012 for his
role in the Ponzi scheme masterminded by John Farahi, should
serve at least 12 years and seven
months and as much as 15 years
and eight months.
Tamman’s attorneys objected
to the report. “The [presentenc-ing report] repeatedly holds Mr.
Tamman accountable for con-
duct by Mr. Farahi without evidence that Mr. Tamman knew or
reasonably should have known
of that conduct,” wrote attorney
William Genego of the Law Offices of William Genego in Santa
Monica in a July 1 filing. For instance, Tamman was aware of
only $3 million in investor losses,
not $22 million.
Tamman, who worked for
Nixon Peabody from February
2007 to October 2009, was suspended by the State Bar of California on February 18 following
his conviction on 10 counts, including conspiracy to obstruct
justice, alteration of records, and
mail fraud. He faces a statutory
maximum sentence of 190 years.
Tamman’s sentencing was de-
layed after he brought in David
Duncan at Zalkind Duncan &
Bernstein in Boston to replace his
trial attorneys, Stanley Stone and
Steven Stone of Stone & Stone in
Encino, California. Duncan, his
lead attorney, declined to com-
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