Saturday, June 10, 2006

Pennsylvania Attorney Indicted for Defrauding Clients

Pennsylvania attorney Michael Kasprenski was indicted for allegedly embezzling over $1.5 million from the decedent estates of his clients.  Twenty of the 24 counts allege mail and wire fraud, and a press release issued by the U.S. Attorney's Office for the Eastern District of Pennsylvania (here) describes the schemes:

Counts one through nine charge KASPRENSKI with a mail fraud scheme in which he defrauded decedent estate clients by forging names on documents which he submitted to financial institutions and investment firms. The indictment alleges that KASPRENSKI used the mail to devise a scheme to defraud various individuals who were clients of defendant MICHAEL D. KASPRENSKI, and to obtain money and property by means of false and fraudulent pretenses, representations and promises.

Counts ten through twenty charge KASPRENSKI with a wire fraud scheme in which he defrauded decedent estate clients by forging names on documents which he submitted to financial institutions and investment firms. In addition to decedent estate clients, the indictment alleges that KASPRENSKI also defrauded various real estate transaction clients. The indictment further alleges that KASPRENSKI used client funds without their authorization and had those funds wired to his attorney IOLTA account, which he then used for his personal use and benefit.

Kasprenski was also charged with bank fraud for passing a check on a closed bank account and filing false tax returns.  The Pennsylvania state bar suspended Kasprenski's law license in December 2005, and he has been receiving treatment to restore his competency to face the charges.  An article in The Legal Intelligencer (available on Law.Com here) discusses the indictment.  (ph)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/06/pennsylvania_at.html

Fraud, Legal Ethics, Prosecutions | Permalink

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Pennsylvania attorney Michael Kasprenski was indicted for allegedly embezzling over $1.5 million from the decedent estates of his clients according to a press release issued by the U.S. Attorney's Office for the Eastern District of Pennsylvania here. C... [Read More]

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