"Out-of-town players also included Wall Street types such as Charles LeCroy, former managing director of the southeast regional office of J. P. Morgan and Anthony Snell, a former J. P. Morgan vice president. LeCroy and Snell hailed from Florida and Georgia respectively. Both pled guilty to billing J. P. Morgan for $50,000 worth of non existent legal work by Ronald White. In exchange for his influence in obtaining city business for J. P. Morgan. Business that was also beneficial to LeCroy and Snell."
The auction rate preferreds didn't save them money?