Victims of Attorney Theft Received $930,000 in Fiscal Year 2012
In Fiscal Year 2012, the Clients’ Security Fund of Ohio awarded nearly $930,000 for 175 claims of attorney theft, according to the fund’s annual report released today.
The claims eligible for reimbursement resulted from the dishonest conduct of 60 attorneys. The fund’s Board of Commissioners also determined that four attorney fee applications were eligible for reimbursement of $1,030 in attorney fees.
“As indicated in this report, the Clients’ Security Fund continues to achieve its goal of providing assistance to clients financially harmed by the dishonest conduct of licensed Ohio attorneys,” said CSF Administrator Janet Green Marbley. “This report confirms the fact that the overwhelming majority of Ohio lawyers observe high standards of integrity when entrusted with law-client money or property. The dishonest acts of a few, however, can affect the public’s image and confidence in the legal profession as a whole. The Clients’ Security Fund seeks to restore confidence in the legal profession by reimbursing law clients for losses sustained as a result of the dishonest conduct of their attorneys.”
Other statistics from the report include:
- 172 claimants received 100 percent reimbursement of their losses.
- 45 claims were ruled ineligible.
- 4 claimants received the maximum ($75,000) award amount.
The fund seeks to support public confidence in the legal profession by reimbursing law clients for losses sustained as a result of the dishonest conduct of their attorneys. The attorneys who were cited for dishonest conduct represent less than 1 percent of the 43,650 active Ohio attorneys.
The fund – created in 1985 by Gov. Bar R. VIII of the Supreme Court Rules for the Government of the Bar – is supported entirely from the Attorney Registration Fund, and does not receive any tax revenues. Since its inception, the fund has allocated more than $17.3 million to 2,251 former law clients.
View the complete report.