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Fox Rothschild sign (Courtesy photo)

The New Jersey Supreme Court on Thursday absolved Fox Rothschild of claims that the firm improperly transferred $2.4 million from its attorney trust account to now-convicted Ponzi schemer Eliyahu Weinstein, finding that law firms are under no obligation to break with clients’ directions unless they are aware of a competing claim on funds.

In a unanimous opinion, the state’s high court overturned a June 2018 decision by an intermediate appeals court that reinstated U.K. real estate investor Moshe Meisels’ conversion claim against Fox Rothschild. Meisels had alleged that he was bilked by Weinstein, who previously pleaded guilty to running a yearslong real estate Ponzi scheme that caused $200 million in losses, and that more than $2.4 million he lost moved through the firm’s attorney trust account.

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Dan Packel

Dan Packel covers change and innovation in the legal services market, and writes a weekly briefing for Law.com, "The Law Firm Disrupted," on these subjects. He is based in Philadelphia. Contact him at [email protected] On Twitter at @packeld

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