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  • May 01, 2005

    Inside the Bar May 2005: Wisconsin Lawyers' Fund for Client Protection disburses $70K-plus for lawyer theft

    The Wisconsin Lawyers' Fund for Client Protection Committee approved reimbursements to seven victims of lawyer theft in April. It also set the fiscal year (FY) 2006 assessment at $10, the same amount as last year.

    Inside the Bar
    May 2005

    Wisconsin Lawyers' Fund for Client Protection disburses $70K-plus for lawyer theft

    The Wisconsin Lawyers' Fund for Client Protection Committee approved reimbursements to seven victims of lawyer theft in April. It also set the fiscal year (FY) 2006 assessment at $10, the same amount as last year.

    The committee approved reimbursements totaling $74,998 to seven victims of lawyer theft. Claims were approved for clients of John A. Chavez (one claim for $1,500), Robert Parent (one claim for $63,150), Elizabeth Cavendish-Sosinski (one claim for $4,000), Charles Krombach (one claim for $2,000), Gillam Kerley (one claim for $348), Thomas Fadner II (one claim for $2,500), and David Ham (one claim for $1,500).

    The committee deferred action on seven claims totaling $126,808 to its Sept. 28 meeting. The number of claims approved during fiscal year 2005 is 23, for a total of $185,632.19.

    The committee set the FY 06 (July 1, 2005 - June 30, 2006) assessment at $10, based on the anticipated fund balance at the end of the current fiscal year and claims anticipated to be filed for consideration in FY 06.

    The Wisconsin Supreme Court established the fund, formerly named the Clients' Security Fund, in 1981 to reimburse people who lost money through dishonest acts of Wisconsin attorneys, including unearned retainer, theft from estate, misappropriation of funds, conversion of trust account funds, and theft by investment. All claims for reimbursement and all proceedings of the committee are subject to SCR 12.04-11. All Wisconsin-licensed attorneys, except those classified as inactive, subsidize the fund through an annual assessment. Reimbursement decisions are made at the discretion of the committee, which meets twice a year.

    For more information about the Wisconsin Lawyers' Fund for Client Protection, visit www.wisbar.org/clientprotection.

    Inside the Bar


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