Carl H. Loewenson, Jr.

Partner | New York

cloewenson@mofo.com | (212) 468-8128 cloewenson@mofo.com
(212) 468-8128

Chip Loewenson is a member of the firm’s Securities Litigation, Securities Enforcement, and Investigations + White Collar Defense groups. His practice focuses primarily on white collar defense, including regulatory matters. His cases have included alleged insider trading, market manipulation, and other securities fraud issues, foreign corrupt practices, OFAC sanctions, government contract fraud, tax evasion, money laundering, price-fixing, false claims against the government, obstruction of justice, and attorney discipline. He is a member of the Commercial Arbitration panel of the American Arbitration Association and has presided at arbitrations as the sole arbitrator and as a party-appointed arbitrator.

The United States District Court for the Southern District of New York has appointed Mr. Loewenson as receiver in three separate SEC enforcement actions, including SEC v. Credit Bancorp, Ltd., in which he led a 14-year effort resulting in the recovery of most of the $200 million that customers lost in a Ponzi scheme. The SEC also appointed him Independent Consultant in an enforcement action against the notorious securities boiler room, Stratton Oakmont, which was featured in “The Wolf of Wall Street.”

Prior to joining Morrison & Foerster in 1990, Mr. Loewenson served as an Assistant United States Attorney in the Southern District of New York for five years. For most of his time there, he served on the Securities and Commodities Fraud Task Force, where he prosecuted cases involving insider trading, stock manipulation, other securities fraud offenses, and tax evasion. As an Assistant U.S. Attorney, Mr. Loewenson was successful in 15 out of 16 verdicts in the cases he tried.

From 2001-2007, Mr. Loewenson was a member of the New York State Ethics Commission, a body charged with interpreting and enforcing New York State’s ethics in government statutes. From 2007-2013, he was chairman of the board of the Jacob Javits Convention Center in New York City. He is presently a member of the boards of Scenic Hudson, Inc., the Hudson Valley Shakespeare Festival, and the Exoneration Initiative. Mr. Loewenson also has a significant pro bono practice – he was integral to the release of Richard Rosario, who served 20 years in prison after being wrongfully convicted of murder. The case was the subject of a Dateline NBC series.

At Yale Law School, Mr. Loewenson was a Note Editor of the Yale Law Journal, and at Princeton, he was the Editorial Chairman of the Daily Princetonian. Mr. Loewenson was a Fulbright Scholar and was a visiting scholar at the Stockholm International Peace Research Institute in Stockholm, Sweden.

After serving as a law clerk for the Honorable Frank M. Coffin of the U.S. Court of Appeals for the First Circuit, he served for a year on the National Legal Staff of the American Civil Liberties Union in New York City as the Karpatkin Fellow.

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Experience

  • Represented investment bank head and several other high-level officials in worldwide LIBOR investigations and litigations.

  • Represented a foreign bank in US DOJ investigation of alleged violations of US sanctions relating to Iran.

  • Conducted internal investigations and defended government investigations for multiple Fortune 500 companies involving allegations of bribery of foreign government officials

  • Represented the former chair of the compensation committee of the board of directors of UnitedHealth Group Inc. in government investigations and civil actions relating to allegations of stock options backdating, resulting in avoidance of action by the government and settlements favorable to our client in the civil actions.

  • Represented senior AML executives at multiple large financial institutions in separate US government investigations of AML practices and controls.

  • Conducted an internal investigation on behalf of the Audit Committee of the Supervisory Board of ABN AMRO Bank N.V. regarding anti-money laundering policies and practices at the bank's US dollar clearing unit.

  • Represented the former Chief Financial Officer of one of the largest national mortgage originators in DOJ and SEC investigations and related shareholder litigation arising from the 2008 financial crisis.

  • Represent the former CEO of a large national bank in SEC and DOJ investigations relating to disclosures of losses in the bank's mortgage portfolio.

  • Represented an auditor at a Big Four accounting firm in an SEC investigation involving allegations of securities fraud and improper professional conduct arising out of the audit of a public company at which members of top management were criminally convicted of engaging in a massive, collusive accounting fraud. After a Wells process, the SEC staff terminated the investigation without commencing an action against the client.

  • Advised major U.S. research university in criminal and civil investigation of alleged false claims relating to federal research grants and contracts.

  • As court-appointed receiver from 2000 to 2014, successfully led an effort to identify and recover $200 million that had been lost in a Ponzi scheme.

  • Represented multiple employees of a multinational bank in investigations by the U.S. Attorney’s Office, state criminal prosecutors, SEC, CFTC, U.S. banking regulators and foreign regulators regarding an alleged scheme to overvalue a commodities derivative trading portfolio. Following multiple interviews with law enforcement and regulatory agencies, no charges were brought against clients.

  • Represented the Audit Committee of Interpool, Inc., a NYSE-listed company and one of the world's leading lessors of shipping containers and chassis, in an internal investigation arising from an accounting restatement.

  • For 13 years, represented Richard Rosario, whose conviction was vacated in March 2016 after he had served 20 years for a crime he did not commit. Case was featured in a Dateline NBC series and on the NBC Nightly News.

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