The trials and tribulations of former plaintiff's lawyer Steven Eugene ("Gene" a/k/a "Geno") Cauley have received a fair amount of ink over the last year, but there is a new twist.

Readers may recall that Cauley was one of the lead counsel in the BISYS securities litigation that settled in 2006 for $65.8 million. Cauley was the sole signatory of the escrow fund in the BISYS litigation, and revealed in April that he was unable to produce the $9.3 million in remaining settlement funds from the BISYS litigation.

Following this disclosure, Cauley resigned from his firm, surrendered his law license, and agreed to plead guilty to one count each of wire fraud and criminal contempt for “failing to safely hold” the settlement funds. His sentencing is scheduled for next week.

Last month, one of Cauley's creditors, Centennial Bank, sued Cauley's former law firm (n/k/a Carney Williams Bates Bozeman & Pulliam, PLLC) and his former partners. According to an article in the Arkansas Business Journal, Centennial is operating under a power of attorney, in the name of Cauley.

According to the article, the firm's defense to the suit is essentially that Cauley forfeited his contingency fee rights when he surrendered his law license in May. The firm's lawyer, Skip Henry, notes that "[b]ecause he is no longer a lawyer, we cannot pay him any contingency fees."

A follow up article from the Arkansas Business Journal also notes that Cauley is a former director of Centennial Bank's holding company, Home BancShares, Inc. (NASDAQ - HOMB) and that Cauley and his various entities (listed here) owe Centennial more $41 million.

More bad news for Cauley - his Gulfstream G450 was repossessed by Wachovia in June.