May 26, 2010
Prominent Yale Donor and Former Outside Counsel Charged in $60 Million Fraud
The New York County district attorney’s office has charged James Mazzuto, a former CEO of Industrial Enterprises of America, and James Margulies, an outside lawyer, with running a $60 million stock scheme. Margulies, a founding partner of Cleveland-based Margulies & Levinson, served as outside counsel to Industrial Enterprises and briefly was its top executive in 2008. He also served on the company’s board of directors and worked as its CFO and general counsel.