Connecticut Attorney Surrenders Law License After Allegedly Pocketing $850K In Closing Proceeds Due On Existing Mortgages

In Wilton, Connecticut, the Connecticut Law Tribune reports:

• [J]oseph Kriz, 44, of Wilton resigned from the [Connecticut] bar on Thursday, March 27, and waived his right to reapply for admission after investigations revealed that he failed to pay off more than $850,000 in mortgages after handling house sales and refinances. [...] That may not be the last of his problems. Assistant Disciplinary Counsel Patricia King said she is forwarding information about the case to the FBI, which is reportedly investigating the missing money.

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• Kriz's case is one of a growing number involving lawyers and missing money in real estate deals. Last year, the FBI released a study that showed mortgage fraud involving lawyers to be a significant problem in states where attorneys remain involved in the real estate closing process.

For more, see Wilton attorney loses license over real estate closings.

See Theft Of Escrow Funds I and Theft Of Escrow Funds II for other stories of trust account / escrow account theft of funds. sneaky slick escrow agents beta