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  • November 01, 2003

    Inside the Bar November 2003: Clients' Security Fund disburses $56K in claims

    The Clients' Security Fund Committee approved reimbursements totaling $56,541.80 to 12 victims of lawyer theft at its September meeting.

    Inside the Bar
    November 2003

    Clients' Security Fund disburses $56K in claims

    The Clients' Security Fund Committee approved reimbursements totaling $56,541.80 to 12 victims of lawyer theft at its September meeting.

    "This total was well within our budget projections, and the fund remains on a sound financial footing," reports committee chair Wayne Maffei. "The committee is dedicated to increasing public awareness of the fund and reimbursing client victims of dishonest lawyer conduct."

    According to Maffei, the committee plans to petition the supreme court to rename the fund, "The Wisconsin Lawyers' Fund for Client Protection." The new name better describes both the source and purpose of the fund.

    Claims were approved for clients of John Sanborn (one claim for $6,131.80); the late Brian Blacher (seven claims totaling $13,710); the late Mark P. Dries (one claim totaling $35,000, which was the maximum allowable amount based on the date of the theft); Thomas K. Archie (one claim totaling $250); Anne B. Shindell (one claim totaling $1,000); and Robert Sherry (one claim totaling $450).

    The Wisconsin Supreme Court established the 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 the provisions of SCR 12.04. All Wisconsin-licensed attorneys, except those classified as inactive, subsidize the fund. Reimbursement decisions are made at the discretion of the committee, which meets twice a year.


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