This is the property of the Daily Journal Corporation and fully protected by copyright. It is made available only to Daily Journal subscribers for personal or collaborative purposes and may not be distributed, reproduced, modified, stored or transferred without written permission. Please click "Reprint" to order presentation-ready copies to distribute to clients or use in commercial marketing materials or for permission to post on a website. and copyright (showing year of publication) at the bottom.

George S. Cardona

By Henry Meier | Sep. 11, 2014

Sep. 11, 2014

George S. Cardona

See more on George S. Cardona

U.S. Attorney | Central District of California | Los Angeles | Specialty: criminal


Facing one of the stiffest tests of the legal theory underpinning much of the action taken against financial institutions in the wake of the mortgage crisis in 2008, the U.S. Department of Justice last year turned to George S. Cardona, to lead the prosecution of Standard & Poor's Financial Services LLC.


Cardona is one of the most intelligent and even-keeled prosecutors in the Central District. He has served in every major position in the U.S. attorney's office including as chief of the criminal division and two stints as the interim U.S. attorney. He spent nearly a decade as the chief assistant U.S. attorney, essentially running the office as the Number 2 prosecutor in the district.


To give the S&P case the attention it deserved, Cardona stepped down from that position with the filing of the case last February. His advocacy during the initial stages of the case, which is being heard in front of U.S. District Court Judge David O. Carter in Santa Ana, staved off defense efforts to dismiss the case. Cardona's unflappable nature, integrity and ability to lay out in simple terms the complexities of the securities products at issue in the case have been no small part of the government's success in keeping the case afloat.


While rumors of a settlement with S&P have been percolating since the company appointed a new general counsel, the case is still in the throes of discovery with a trial tentatively scheduled for late summer or early fall 2015.


Cardona declined to comment.

<< HENRY MEIER

#285461

For reprint rights or to order a copy of your photo:

Email jeremy@reprintpros.com for prices.
Direct dial: 949-702-5390

Send a letter to the editor:

Email: letters@dailyjournal.com