David Castleman joined Otterbourg as a member in the restructuring and bankruptcy department. He comes to Otterbourg from Raines Feldman, where he was a partner.
Castleman’s practice focuses on federal equity receiverships and complex litigation in both state and federal courts. Recognized for his experience in cryptocurrency insolvencies, Castleman was appointed as receiver regarding a $250 million alleged internet-based Ponzi scheme in a case brought by the Commodity Futures Trading Commission in the Southern District of New York. In this, he helped in the recovery of over $100 million for the benefit of claimants, including more than $60 million in cryptocurrency held overseas in the first year of the receivership.
“Dave is an impactful lawyer with an impressive track record in a very demanding practice,” Richard Stehl, chairman at Otterbourg, said. “He brings unique skills to Otterbourg that enhance our bankruptcy practice and expands the range of complex cryptocurrency services we provide. We are pleased to welcome Dave to Otterbourg.”
Castleman was previously senior counsel at a prominent litigation boutique firm, working extensively on receivership matters. Earlier, he served as an assistant attorney general in the New York Investor Protection Bureau, where he was instrumental in achieving a $714 million global settlement against a major financial institution on behalf of fraud victims. Castleman contributed substantially to novel strategies by the New York Attorney General to use the Martin Act to hold fossil fuel companies responsible for contributing to climate change.
“Dave will be a valuable addition to our practice, strengthening our fiduciary and receivership practice, and enhancing the services provided by Erik Weinick and Phil Berg in crypto currency forensics,” Melanie Cyganowski, chair of Otterbourg’s restructuring and bankruptcy department and former chief judge of the Eastern District Bankruptcy Court, said.
