A noisy withdrawal in Stanford case

You've no doubt heard of R. Allen Stanford and the controversy over the Stanford Financial Group, which some see as a financial scandal of Madoff-ian proportions. The Wall Street Journal's law blog reports that the lawyer for Stanford has resigned from representing the man and his company. This qualifies as a "noisy withdrawal" in legal terms.

The post notes that "the issue of when lawyers need to withdraw from representation of a client is governed by" state rules regarding lawyer ethics and Sarbanes-Oxley, which makes it easier for lawyers "to reveal confidential client information to investigators if that attorney believes that doing so will prevent a violation of the law or help rectify losses investors have already suffered." We rarely hear of such withdrawals, which makes us wonder all the more about what Stanford was up to. 

For more:
- here's the post

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Stanford group news from FierceFinance