The Whole Law:
A Whole Law Example: When counseling a startup, we counsel the client on the tax
implications of an exit from the business as well as estate planning.
Two ready examples of failing to practice the whole law always
come to mind:
The first is what happened to Gordon Ralph:
Cora Buckowich raised money using the lure of
spectacular profits. She promised that an investment of $500,000 placed in
overseas "bank note trading programs" would grow to $93 million within
three months. The offer was ludicrous; a promise of extravagant returns is a
signal of fraud (and it also should have posed the question why, if Buckowich
had such amazing opportunities, she would allow the profits to go to strangers
rather than reaping them herself). Yet Gordon Ralph was taken in; and the oddity
that a well-to-do person would be such a sucker was compounded by the fact that
Ralph had his lawyer William Wylie represent him in the transaction. How any
competent attorney could have failed to protect his client from this scam is a
mystery, but Wylie and his partner Grant Markuson seem to have been more naive
than Ralph. At least Ralph knew that he needed
professional assistance. Wylie and Markuson not only failed to steer Ralph away
from the fraud but also did not keep tabs on the money. Buckowich
used a series of bank transfers to spirit the funds from Markuson's lax
supervision during a trip to London for the supposed closing. By the time
prosecutors caught up with her, Buckowich had spent the proceeds and could not
make restitution.
United
States of America v Buckowich
The second is what happened to Dale Randall
Goebel, which was even worse. He ended up in jail when his bankruptcy
attorney failed to tell him that he could not collect $15,000 due on a construction project and not pay the men who furnished the materials and labor
on the project.
Goebel v. Lauderdale