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A federal grand jury decided that 13 counts of mail fraud, nine counts of bank fraud and one count of wire fraud were appropriate in the case of Maureen Walsh Fairchild, a former partner with Chicago-based Chapman & Cutler. Fairchild was accused of billing Harris Bankcorp and some of its corporate trust clients for thousands of hours of work – while she was vacationing and taking care of personal business. Billings were sent to cover ski resort vacations, trips to spas, Broadway tickets and a fancy birthday party for a personal friend. In total, approximately $850,000 to $900,000 may have been fraudulently billed over the three-year period between 1991 and 1994. Chapman & Cutler, the nation’s fourth largest bond counsel firm for the past three years, has reimbursed clients affected by the bogus billings. As for Fairchild, she has pled not guilty and remains free. If convicted, she faces up to 30 years in prison and several million dollars in fines.
Coincidentally(?), Fairchild’s husband Gary faced almost identical charges two years ago as a result of work done through the Chicago law firm of Winston & Strawn. He pleaded guilty to defrauding clients of $750,000 and served a 21-month prison sentence.
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