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  • December 01, 2005

    Inside the Bar December 2005: Fund disburses $20K-plus for lawyer theft

    The Wisconsin Lawyers' Fund for Client Protection Committee considered 14 claims totaling $190,009.

    Inside the Bar Inside the Bar
    December 2005

    Fund disburses $20K-plus for lawyer theft

    The Wisconsin Lawyers' Fund for Client Protection Committee considered 14 claims totaling $190,009 and approved reimbursements totaling $20,932 to 10 victims of lawyer theft at its Oct. 5 meeting.

    The committee approved reimbursements for clients of Margaret Asterlin (one claim for $250), Thomas Fadner II (one claim for $3,000), Charles Koehn (seven claims totaling $12,682), and John Sanborn (one claim for $5,000). Two claims had been deferred from the Aug. 16 meeting, one claim was a request for reconsideration, and 11 were new claims. The committee denied four claims, including the request for reconsideration. The next meeting is scheduled for April 4, 2006.

    "This committee's work speaks volumes for the overwhelming majority of honest attorneys," says Committee Chair David Reddy. "Through the committee's efforts, confidence in the legal profession that is lost at the hands of the few dishonest attorneys can be restored."

    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 committee proceedings are subject to SCR 12.04.11. All Wisconsin-licensed attorneys, except those classified as inactive, subsidize the fund through an annual assessment.

    Inside the Bar


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