X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
money coinsEvery two years, all lawyers registered to practice in New York state file with the Office of Court Administration. From each registration fee, $30 are annually directed to the Lawyers’ Fund for Client Protection (the Fund), which in turn has generated the astronomical sum of $226,000,000 in payouts to law clients who were victimized by a small fraction of thieving attorneys. The Fund, which was a creation of the State Legislature in 1981, and overseen by the seven judges of New York’s Court of Appeals, uses not one dollar of taxpayer money, nor are we affiliated in any way with more widely known IOLA program.

Columbia Law alumnus William R. Nojay, a single practitioner in Monroe County, had a career of accomplishments. A former appointee of Governor Pataki, a director of a not-for-profit foundation, and state assemblyman, he nonetheless found the time to steal over $1 million from a trusting client. The theft came from an escrow fund that Nojay established for his client during the course of an international dispute. Nojay returned $700,000, leaving his client with a $337,000 loss, which was refunded in full by the Fund.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 3 articles* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.