Tuesday, 28 March 2017
Last updated 17 hours ago
Nov 30 2016 | 9:57pm ET
U.S. Attorney Preet Bharara has said he will remain at his post in the Southern District of New York when Donald Trump takes office next year, following a meeting with the President-elect on Wednesday.
Bharara, appointed to his position by President Obama in 2009, is well known in financial circles for bringing a number of high-profile cases against Wall Street executives, including a raft of insider trading prosecutions that ensnared a range of alternative investment management firms such as Galleon Group, SAC Capital Advisors, and Level Global. He ultimately presided over more than 80 convictions in the effort, although a number have been dismissed, vacated or annulled following the December 2014 Newman ruling that significantly raised the bar in such cases.
Bharara met with Trump at Trump Tower on Wednesday and characterized his discussion with the President-elect as “a good meeting,” according to a Reuters article. "I said I would absolutely consider staying on. I agreed to stay on," he said.
“I am glad they met and am glad Preet is staying on," said U.S. Senator Charles Schumer of New York, the incoming Senate Democratic leader for whom Bharara once worked as chief counsel, in a statement. "He's been one of the best U.S. Attorneys New York has ever seen," Schumer added.
Bharara has also dealt with some of the most famous criminal fraud and corruption scandals in recent memory, including Bernie Madoff’s guilty plea to the largest Ponzi scheme in history and the conviction of former New York State Assembly speaker Sheldon Silver on corruption charges.