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A colleague of mine has been arrested.  He has been accused of stealing $700,000.00 of clients' money.   He was a contemporary of mine, who I've known for 25 years.

He's an affable guy.  I never thought that he was the brightest bulb in the box.

I'd have a closing with him about once or twice a year.  He would always be sure to show off his Bentley.  I remember thinking, "How can he afford a Bentley?"  Now i know.

There is something about Long Island Real Estate Attorneys.   This isn't the first.  It isn't even the largest.

About 20 years ago, after bouncing a check on a client of mine, an Attorney committed suicide.

What do these guys think is going to happen?   They're stealing client funds and expect to get away with it.

They're more dangerous than a thief with a gun.  You know to fear the guy with gun.

Comments

( 7 comments — Leave a comment )
bluedressdevil
Jan. 22nd, 2009 09:47 pm (UTC)
I have such distaste for attorneys who do this kind of thing. They are why people think ALL attorneys are scumbags.

And the thing I always wonder is "was it worth it?" You spend extra time going to law school taking the bar and working to build your practice only to have it destroyed because you wanted MORE money than you deserved.

jellomarx
Jan. 22nd, 2009 10:01 pm (UTC)
What amazes me is that there is no way that they're not going to get caught.
cathy_edgett
Jan. 22nd, 2009 11:56 pm (UTC)
It is hard to fathom. How can they not see it is theft, and as you say, not recognize that they will be caught? How can the purchases and momentary hit of self-esteem be worth the cost? It must be some kind of self-loathing, death wish, or need for punishment that I don't understand. We had money stolen in this way. We met him as a young man starting out. When he was caught, he was a family man, with children and a wife. He is in jail; the money is gone, and again, I will never understand why he did it. He hurt himself and his family. We are fine.
jellomarx
Jan. 22nd, 2009 11:58 pm (UTC)
Was it an Attorney?

If so there may be a fund to recoup your losses. There is in NY.

cathy_edgett
Jan. 23rd, 2009 12:46 am (UTC)
No he was an investment person. Effort was made to retrieve money from him, as we weren't the only ones, but it was all gone and we released ourselves from effort regarding retribution and retrieval, feeling we should have been more careful and observant of what was going on.
lux_angelis
Jan. 23rd, 2009 07:36 am (UTC)
Good god. I don't understand why people do anything for money...it's so easy to be happy without $700,000 and especially without the fear of being arrested and sent to jail...
rob_t_firefly
Jan. 23rd, 2009 03:16 pm (UTC)
Wow. This is difficult for me to wrap my head around. It's not just someone pulling some stupid little scheme that nobody would have gotten wind of or that wouldn't have serious consequences. It's $700,000 worth of stupid. That takes doing.

Crooked attorneys are a bit like crooked cops; you'd think that someone who devotes their career to the study and implementation of the law would understand the inevitable consequences of their actions.
( 7 comments — Leave a comment )

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