Now We Can’t Even Trust Our Real Estate Lawyers?

by | BiggerPockets.com

174_tigershark.JPGIt seems like I’ve been on a bit of a roll today, highlighting many of the downsides of the real estate world. Sadly, there is just more bad news to tell you about.

Apparently an attorney in Westchester, New York was arraigned today for stealing almost $100,000 owed to her client, a homeowner that she represented in a foreclosure sale.

Last January, she allegedly received about $312,000 on behalf of the homeowner, then told the client that she deposited nearly $97,592 of that with the Westchester County Commissioner of Finance, saying it was “surplus” money remaining after payment of the outstanding mortgage, taxes and other expenses related to the foreclosure.

Rather than depositing the money, however, for personal and business expenses.

She was arrested today following an investigation by the District Attorney’s Public Integrity Bureau. She managed to pay the bail of $7,500 cash or $20,000 bond. She is due in Elmsford Town Court on Wednesday.

Not only are they sharks, but real estate lawyers are also finks, I guess.

Now . . . I could have told you that before all of this happened, couldn’t I?

About Author

Joshua Dorkin

Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

8 Comments

  1. Hi there I am a new visitor/reader of your site.

    It’s makes people feel bad or sad and angry when these kind of news shows up. At the same time these kinds of news alert people. Hey thank you for sharing and posting the information.

  2. This goes to show you that you not only need to screen your rental applicants carefully, but you also need to screen your own team members carefully as well.

    It’s a shame that people let greed keep them from seeing the big picture.

  3. Honestly, all this doesn’t suprise me anymore. These days you have to be careful who you hire. Get a real estate lawyer from a trusted firm and the likelihood that you will be scammed will be little to none.

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