Maryland v. Martin , 308 Md. 272 (1987)

an an attorney who also acted as an investment adviser to an illegal pyramid scheme be subject to professional discipline for failing to properly segregate his legal and non-legal businesses?

more+
less-

he Maryland Court of Appeals held that the attorneys actions were likely to confuse the public about his role in giving them investment or legal advice, and he was therefore subject to professional discipline. The attorney acted as the unwitting agent of an illegal pyramid scheme who also gave legal advice to investors in the scheme. Because he operated both enterprises without any meaningful distinction to the public about the role he played, that of investment adviser or lawyer, he was held to be subject to professional discipline. He was not held liable for the illegal actions of the scheme because he did not have any knowledge of its fraudulent nature.

Full case and case summary is also available online at: http://www.mlmlegal.com/legal-cases/Maryland_v_Martin.php

LOADING PDF: If there are any problems, click here to download the file.

Published In: MLM / Direct Sales Updates, MLM Consulting / Network Marketing Updates

Reference Info:State, 4th Circuit, Maryland | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Babener & Associates | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

CONNECT

Welcome to MLM Legal - a valuable resource to the Multi-Level Marketing and Direct Sales Industry. ... View Profile »


Follow Babener & Associates:

Reporters on Deadline