Disbarred Attorney Charged With Pocketing Clients' Escrow Money From Real Estate Closings

From the Monmouth County, New Jersey Prosecutor's Office:

• On May 5, 2008, a Monmouth County Grand Jury returned a one count indictment charging Gary Edelson, 47, of Red Bank, N.J., with second degree Misapplication of Entrusted Property.

• A criminal investigation conducted by the Monmouth County Prosecutor's Office revealed that between August 2003 and November 2005, Edelson, an attorney, failed to properly disburse over $200,000 in funds he held in escrow from fifteen separate real estate closings. On September 27, 2006, the New Jersey Supreme Court ordered Edelson's disbarment from the bar of the State of New Jersey. Additionally, over $170,000 in claims have been paid from the New Jersey Lawyers' Fund for Client Protection.

• Monmouth County Prosecutor Luis A. Valentin stated, "Edelson violated the fiduciary duty he owed his clients. As a result, he has forfeited his privilege to practice law in the State of New Jersey and he now faces serious criminal charges."

For more, see Former Red Bank Lawyer Indicted for Misapplication of Over $200,000 from Client Funds.

If a New Jersey attorney is representing you and screws you out of money or property through dishonest conduct, go to the New Jersey Supreme Court's Lawyers' Fund for Client Protection for more information.

For other states and Canada, see:

• Directory Of Lawyers' Funds For Client Protection (American Bar Association);
• Check the USA Client Protection Funds Map;
• Check the Canada Client Protection Funds Map.

Go here, Go here, and Go here for other stories of trust account / escrow account theft of funds. sneaky slick escrow agents gamma