Brad Karp is stepping down as chair of the US law firm Paul Weiss amid scrutiny over his ties to Jeffrey Epstein. Scott Barshay, a top deals lawyer, will take over the role.
Karp has led the firm for 18 years. He stated, “This has been the honor of my professional life,” but added that the recent media focus is not beneficial for the firm. Documents from the Department of Justice revealed that Karp complimented Epstein after he arranged a dinner with filmmaker Woody Allen. Karp even helped set up film screenings for Epstein’s children and once sent a letter defending Epstein’s plea deal regarding sex offenses.
Although the firm maintained that Karp never directly represented Epstein, it acknowledged the complex connections. Paul Weiss was initially hired by Leon Black, the former CEO of Apollo Global Management, to resolve fee disputes tied to Epstein. Black stepped down in 2021 after connections to Epstein came to light.
Karp’s resignation is part of a broader investigation into how Epstein mingled with influential figures. Barshay praised Karp for transforming Paul Weiss and emphasized gratitude for his leadership. The decision to replace Karp came after extensive discussions among senior partners, who were mindful of the ongoing Epstein fallout.
Interestingly, Karp also reached out to Epstein in early 2019 about two men involved in a Florida prostitution case, seeking legal support for one of them.
Since joining from Cravath in 2016, Barshay has positioned Paul Weiss as a leading adviser for corporate giants, handling nearly $400 billion in transactions last year. This move made them a top player in the legal landscape.
As new developments continue to unfold, the impact on Paul Weiss and its reputation remains a topic of keen interest. The Epstein scandal highlights the crucial need for transparency and accountability, especially in high-stakes industries like finance and law.
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