Lawyers’ Fund for Client Protection Releases Fiscal Year Report
One hundred and fifty clients who sustained financial losses resulting from the dishonest conduct of their Ohio attorney were reimbursed more than $782,000 in Fiscal Year 2016, according to a report released today by the Lawyers’ Fund for Client Protection.
The fund seeks to promote public confidence in the legal profession by reimbursing law clients. The claims eligible for reimbursement resulted from the dishonest conduct of 48 attorneys. Of the claims approved, 125 were for unearned fees, 19 were for thefts by fiduciaries, and four involved theft-of-settlement proceeds.
Also in the report:
- 97 claimants received 100 percent reimbursement.
- 40 claims were ruled ineligible.
- One claimant received the maximum ($75,000) award amount.
The fund was created in 1985 by court rule and is primarily supported by attorney registration fees. A seven-member board of commissioners appointed by the Ohio Supreme Court determines claim eligibility and manages assets.
Since its inception, the fund has allocated more than $20 million for 2,830 former law clients.