A New York fund that reimburses clients who have suffered financial losses caused by lawyer misconduct paid more than $10 million last year, the second-largest single-year payout in the 35-year history of the fund.
The Lawyers’ Fund for Client Protection is an independent public trust, primarily financed by New York attorney registration fees, that reimburses law clients for “losses caused by dishonest conduct of former New York State lawyers” such as theft of real estate escrow funds, estate assets and settlement proceeds, as well as unearned legal fees paid to a lawyer who falsely promised to render legal services.
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