Gambling debts totaled about $4 million of the $30 million Nathan Hadwick IV allegedly embezzled for his former law firm Morris Hardwick Schneider. However, that entire alleged swindle might have provided more of a rush than any wagering done at casinos. The guy had to have nerves of steel or over-the-top arrogance.
After all, as Joe Patrice describes on Abovethelaw.com, law firms have plenty of check and balances to prevent this kind of financial hanky panky. Patrice notes, "There's inveitably more than one person handling bank statements. It's just hard to lose millions." Here is Patrice's chronicle of the alleged crime and what that fun money bought, at least temporarily.
Hardwick had to be totally consumed with covering his tracks in moving around money and, as Patrice reports, altering bank statements. That requires greater concentration and pleading with Lady Luck to hang with you than gambling per se. Fortunately for him, he got to enjoy the good life the embezzling bought. That included private jet travel and posh real estate.
The memory of all that could wipe up the reality of possibly bunking in a prison cell. Soemtimes crime does pay, at least for those who have the right mindset about risk and reward.
His former law firm along with its affiliated entity LandCastle Title is suing him.