1) Everyone is entitled to an attorney in a criminal defense matter;
2) Wake will, ultimately, have little to do with whether criminal charges are brought- that will be up to the DA/AUSA when and if they get involved;
3) Absent a situation where Wake has completely fucked Elrod, the defense of any criminal charges will most likely be related to a plea deal more than litigating this matter in the press;
4) There may not even be any criminal charges- Quander might be representing Elrod merely to provide counsel and cover to avoid any public statements. Elrod can refer everything to Quander, which: a) prevents him from being misquoted in the press; and b) precludes any law enforcement from talking to him prior to arrest.
None of those things are likely to piss off Wake.
Not to mention, if you had a friend who was a criminal defense lawyer and had known you for 20+ years, would you expect him/her to turn their back on you if you were accused of a crime?