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
