Leigh Sprague

Leigh Sprague (born Leigh Elisha Sprague; 7 April 1970) is an American former attorney, who specialized in representing Russian oligarchs in their international activities. He stole money while being employed by UC Rusal, a company run by one of the richest oligarchs, Oleg Deripaska.

Sprague's activities came to the attention of federal prosecutors, who initiated a case against him before Judge Thelton Henderson in the United States District Court for the Northern District of California.

Career

Sprague specialized in international commercial law, leading numerous, large-scale commercial transactions with an international component. His expertise eventually brought him, in 2001, to Moscow, Russia, where his specialty was much in demand as a result of the rapid development that followed the fall of the Soviet Union. In 2007, he was hired by UC RUSAL as a lawyer to work on UC RUSAL's initial public offering.

Wrongdoing

Sprague had access to a derivative instrument set up by a subsidiary of UC RUSAL called "Rypotus" that was designed to give UC RUSAL control over a certain number of voting shares in a company Norilsk Nickel, which was then the subject of arbitration between Interros and UC RUSAL. Sprague fraudulently extracted $10 million from the derivative instrument, wiring the stolen funds to Switzerland, Hong Kong, and the United States.

He used these funds for various personal purposes, including the acquisition of a fleet of classic cars and repairs to his house in California, which actually reduced the sale-value of the house. According to court documents, an addiction to over-the-counter cold medicine contributed to Sprague's actions.

Activities

Sprague is an active blogger on his prison blogs, entitled Diary of a Wimpy Con. There, he writes about his experiences with the criminal justice system and his thoughts and feelings about his actions, his downfall and his life as a convicted felon. He has also published articles in other magazines and online publications, including Politico and AND Magazine.

Since serving his sentence, Sprague has accompanied Hank Shea, a former assistant U.S. Attorney who served as a federal prosecutor of white-collar crime and is currently a senior distinguished fellow at University of St. Thomas School of Law, speaking about his experiences to current students of business and law in hopes of helping them learn from his mistakes.