Friday, August 20, 2010

Taking Advantage Of Inexperienced Lawyer Leads To Theft, Disbarment

A bar discipline report from the web page of the North Carolina State Bar;

[An attorney] of Mocksville sold half of his office building. He convinced the buyers and the closing lawyer that he was attending a closing that same day to refinance the remaining property, which would eliminate the existing deed of trust on the property being purchased. No such refinance closing was scheduled to take place. The inexperienced closing lawyer followed [the attorney's] instructions to deliver the gross sales proceeds to [him]. [The attorney] knew that he was obligated to apply $116,000 to pay off the existing mortgage. Instead, [he] converted the funds to his own use. He was convicted of felony obtaining property by false pretenses. [The attorney] was disbarred.

(Mike Frisch)

http://lawprofessors.typepad.com/legal_profession/2010/08/taking-advantage-of-inexperienced-lawyer-leads-to-theft-disbarment.html

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