Bad Lawyers

Real Estate Attorney Stole $5.7 Million
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

missing money

Summary: A real estate attorney pleaded guilty to first-degree grand larceny for stealing $5.7 million from clients.

West Hempstead real estate attorney David Frankel was charged with stealing $5.7 million from his clients. Frankel pleaded guilty to first-degree grand larceny charges. The Nassau County District Attorney’s Office claim that he stole the money between September 2012 and February 2014.

  
What
Where


District Attorney Madeline Singas said, “In less than a year and a half, this defendant pilfered more than $5 million from his clients and egregiously used that money to fund his unsuccessful investments. David Frankel was supposed to represent the best interests of his clients, but instead he defrauded them.”

Frankel was supposed to be representing seven realty companies between June 2012 and September 2012 while overlapping ownership of eight Brooklyn properties. Those properties were refinanced with over $5.7 million being placed in escrow into an Interest on Lawyer Account.

Soon after the money was placed into the account, Frankel began withdrawing funds in order to support his own investments and fund unrelated real estate transactions. The account, which had other unrelated money periodically deposited, reached a low balance of $836.81 in February 2014. Frankel did not have the authorization to use the money for any other reason except to distribute the money as instructed by the principals of the companies.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




The DA’s office noted that Frankel was disbarred in October 2015. He will be back in court in March for sentencing. They are recommending a five to 15 year sentence in prison as well as the order to pay restitution.

What sentence do you think Frankel should receive? Tell us in the comments below.



To learn more about other bad lawyers, read these articles:

Photo: flickr.com



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Computer Science Associate Attorney

USA-DC-Washington

Washington, D.C. office of our client seeks mid-level computer science associate attorney with 2-5 y...

Apply Now

Health Care Associate Attorney

USA-OH-Cleveland

Cleveland office of our client seeks health care associate attorney with 3-5 years of experience in ...

Apply Now

Tax Associate Attorney

USA-NY-New York City

New York City office of our client seeks tax associate attorney with 3-4 years of experience. The id...

Apply Now

RELEVANT JOBS

Paralegal / Secretary

USA-PA-Pittsburgh

Part-time Downtown sole practitioner with more than thirty years\' experience seeking a motivated...

Apply now

Litigation Paralegal

USA-WA-Bellevue

Two attorney business litigation firm needs a ¾ to full time litigation paralegal to assist pri...

Apply now

Paralegal III - Labor & Employment

USA-TX-Katy

Job Description: Education: High School Diploma or equivalent required Bachelor’s d...

Apply now

Legal Secretary / Paralegal

USA-FL-Miami

Why Work Here? “Great benefits” Needed Immediately – Legal Secretary w/Famil...

Apply now

SEARCH IN ARCHIVE

To Top