Success Stories
Loren Margolis

Loren Margolis holds a bachelors degree in business from Ohio State University and a law degree from Cleveland State University’s Marshall College of Law. In 2000, his father-in-law’s company as well as his related companies, M. Weingold and Co. and Harry Rock and Associates offices were simultaneously raided by approximately 45 FBI agents. This surprise attack by the government was the beginning of a difficult six year investigation by the United States Department of Justice, Antitrust Division. It was alleged that Weingold, his companies, Margolis and others participated in an antitrust conspiracy known as horizontal market allocation and bid rigging to suppress competition and control price. In 2004, nearing the end of the statute of limitations, Margolis, Weingold and his two related companies were indicted by a federal grand jury on a two count charge of violations of the Sherman Antitrust Act of 1896. Margolis accepted a last minute plea deal and accepted a 10-12 month sentence. At sentencing, Federal Judge Donald Nugent, understanding the nature of Margolis’ role as a non-owner, officer or director of the companies imposed the minimum that he was permitted to do under the plea. That result was 10 months of sentencing to be split five months in a federal prison camp and five months of house arrest similar to the sentence of the television personality, Martha Stewart. Margolis was released from prison December, 2005 to serve the balance of his sentence on home confinement where he was able to go back to work. He was hired by the same company and was rehired again shortly thereafter after his father-in-law sold it to another large company. Margolis is the General Sales Manager for the Industrial Scrap Division of Ferrous Processing and Trading Co. (FPT) in Cleveland, Ohio. Margolis is a family man and has been married over 22 years and they have three children. With persistence, Margolis was also able to obtain his law license back with a short suspension that ends January, 2009.

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