Thursday, August 9, 2018

Nearly $2 Million Stolen

A felony conviction led to automatic disbarment by the New York Appellate Division for the First Judicial Department

At the plea proceeding, respondent admitted that he committed first-degree scheme to defraud by engaging in a scheme constituting an ongoing course of conduct with the intent to defraud and to obtain property with a value in excess of $1,000.00. Specifically, respondent, while representing clients in bankruptcy matters, engaged in a scheme by which he embezzled $1.83 million in escrow funds from his IOLA account and used those funds for personal expenses and to repay the embezzled funds. Respondent also admitted that he committed second-degree grand larceny by stealing over $50,000.00 of property from SH575 Holdings LLC...

Respondent's admission of guilt of the New York felonies of scheme to defraud in the first degree and grand larceny in the second degree constitutes grounds for disbarment and his name shall be stricken from the rolls pursuant to Judiciary Law ยง 90(4)(b) (see Matter of Scollar, 159 AD3d 59 [1st Dept 2017]; Matter of Arnsten, 106 AD3d 17 [1st Dept 2013]; Matter of Bernstein, 78 AD3d 94 [1st Dept 2010].

(Mike Frisch)

http://lawprofessors.typepad.com/legal_profession/2018/08/a-felony-conviction-led-to-automatic-disbarment-by-the-new-york-appellate-division-for-the-first-judicial-department-at-the.html

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