A former Flushing attorney was charged with misappropriating more than $400,000 from the estate of a deceased man for whom he served as a trustee.
Queens District Attorney Richard A. Brown said: "The defendant is accused of breaching his fiduciary obligations by siphoning off hundreds of thousands of dollars in trust funds for his own personal use and leaving the trust with a closing balance of less than one hundred dollars."
Stephen E. Pearlman of Long Island, maintained a practice until 2006, when he resigned from the bar while facing allegations in a separate matter involving misuse of his attorney trust account.
According to the Queens District Attorney's Office, Pearlman was allegedly named the trustee for the estate of James Graham, deceased, for the purpose of dispersing assets to his wife and beneficiary, Everilda Graham. Instead, Pearlman allegedly made numerous unauthorized withdrawals and wire transfers from the trust, transferring more than $400,000 to either his own general business account or the escrow accounts of other clients. Pearlman allegedly left the Graham trust with a closing balance of $73.93.
Source:
Lawyer Charged in Estate Theft
Flushing Attorney Accused Of Bilking Estate
District Attorney Report:
D.A. BROWN: FLUSHING ATTORNEY CHARGED
WITH STEALING $400,000 FROM TRUST FUND
Queens District Attorney Richard A. Brown said: "The defendant is accused of breaching his fiduciary obligations by siphoning off hundreds of thousands of dollars in trust funds for his own personal use and leaving the trust with a closing balance of less than one hundred dollars."
Stephen E. Pearlman of Long Island, maintained a practice until 2006, when he resigned from the bar while facing allegations in a separate matter involving misuse of his attorney trust account.
According to the Queens District Attorney's Office, Pearlman was allegedly named the trustee for the estate of James Graham, deceased, for the purpose of dispersing assets to his wife and beneficiary, Everilda Graham. Instead, Pearlman allegedly made numerous unauthorized withdrawals and wire transfers from the trust, transferring more than $400,000 to either his own general business account or the escrow accounts of other clients. Pearlman allegedly left the Graham trust with a closing balance of $73.93.
Source:
Lawyer Charged in Estate Theft
Flushing Attorney Accused Of Bilking Estate
District Attorney Report:
D.A. BROWN: FLUSHING ATTORNEY CHARGED
WITH STEALING $400,000 FROM TRUST FUND
And lawyers wonder why they're depicted as sharks?
ReplyDeleteI hope Pearlman receives a very harsh punishment, the maximum time in prison and 100% restitution - he earned it and he deserves it.
ReplyDeleteHow many other times did he do this? How much and how many times did he steal money but got away with it?
And, when he gets to his new home in a cage, he will meet up with sweet, lonely convicts, criminals just like him.
Boy does this sound familiar!!!
ReplyDeleteUsually, they get away with it!