Accused of misusing client funds, a local lawyer will not be able to practice law for a year.
The state Board of Bar Overseers’ suspension of Lawrence P. McLaughlin’s license stemmed from Mr. McLaughlin’s handling of a trust and his Interest on Lawyers’ Trust Account.
The board said Mr. McLaughlin had represented the executor of an estate and was confirmed as trustee of a related trust. Mr. McLaughlin didn’t open an individual trust account for the trust as required and, in August 2005, the executor transferred the estate’s remaining funds to Mr. McLaughlin’s IOLTA account. The board said Mr. McLaughlin should have been holding at least $285,812 for the trust’s beneficiary.
The board noted that Mr. McLaughlin failed to keep a “chronological and accurate check register” for his IOLTA account. He also failed to maintain individual client ledgers, as well as copies of deposit tickets and checks with information identifying clients.
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Lawyer’s license suspended for one year
The state Board of Bar Overseers’ suspension of Lawrence P. McLaughlin’s license stemmed from Mr. McLaughlin’s handling of a trust and his Interest on Lawyers’ Trust Account.
The board said Mr. McLaughlin had represented the executor of an estate and was confirmed as trustee of a related trust. Mr. McLaughlin didn’t open an individual trust account for the trust as required and, in August 2005, the executor transferred the estate’s remaining funds to Mr. McLaughlin’s IOLTA account. The board said Mr. McLaughlin should have been holding at least $285,812 for the trust’s beneficiary.
The board noted that Mr. McLaughlin failed to keep a “chronological and accurate check register” for his IOLTA account. He also failed to maintain individual client ledgers, as well as copies of deposit tickets and checks with information identifying clients.
Full Article and Source:
Lawyer’s license suspended for one year
2 comments:
This is a joke - yes? HO HO HO.
Lawrence P. McLaughlin is a crook, who got caught in the middle of embezzling and he should be DISBARRED post haste! The state Board of Bar Overseers are going to let this financial predator aka lawyer continue business as usual when his year of suspension is up?
A year isn't near enough. Not near enough.
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