Adler Securities Case Media Round-Up

Philadelphia partner Barry Gross has been quoted in several publications since the verdict in the high-profile case of USA v. Scarfo. Nicodemo Scarfo, described by prosecutors as a "made member" of the Lucchese crime family, and Salvatore Pelullo, referred to as a Lucchese family associate, were accused of using economic extortion and threats of physical harm to intimidate and remove the FirstPlus Financial Group management and board in 2007.

Our client, David Adler, was charged with one count of RICO conspiracy, one count of conspiracy to commit securities fraud, one count of conspiracy to commit wire fraud and 10 counts of wire fraud related to the scheme to seize control of FirstPlus.

Barry Gross and Greg Miller led a team comprising Stephen Stroup, Tracy Combs and Nicholas Feltham in securing a full acquittal for Mr. Adler, a well-respected New York securities lawyer, after a six-month trial. Defendants Nicodemo Scarfo, Jr., Salvatore Pelullo, William Maxwell and John Maxwell were convicted of all charges brought against them.

In an extended article in the July 20 Philadelphia Inquirer, Barry's closing arguments in the case against Mr. Adler were quoted at length. In one excerpt, written by Steve Stroup, he said, "If you are Dave Adler, you've spent your whole career building a reputation as an honest, law-abiding person ... Then one day, the government decides that based on a...