Leonard Grunstein

A former chief of the real estate investment and capitalization practice at Troutman Sanders has taken a plea in a misdemeanor perjury case, admitting that he gave false deposition testimony in 2011. Leonard Grunstein, who ave up his New York law license in 2013, was recommended for a conditional discharge, a $1,000 fine and 150 hours of community service under a plea deal with the Manhattan district attorney’s office, reports the New York Observer. The maximum penalty for the charge is a year in jail, a $1,000 fine and restitution. The testimony at issue concerned civil litigation over a complex real estate deal involving a Grunstein client, real estate mogul Ruby Schron, and a $1.3 billion leverage buyout in 2004 of nursing home operator Mariner Health Services. When Schron, who provided a $100 million loan for the deal, tried in 2010 to take control of the resulting company, SV Care Holdings, as he had the option of doing, Grunstein, who was a partner in the deal, sued with another business partner and claimed Schron had never provided the $100 million.