N.Y. real estate lawyer stole millions from clients, Manhattan D.A. charges

N.Y. real estate lawyer stole millions from clients, Manhattan D.A. charges

The entrance to the The New York County District Attorney’s place of work at 1 Hogan Spot is witnessed in Manhattan in New York City, New York, U.S. REUTERS/Andrew Kelly

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  • Prosecutors have stated they hope Mitchell Kossoff to plead responsible
  • Kossoff surrendered passport Friday, are unable to leave New York state

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(Reuters) – New York genuine estate attorney Mitchell Kossoff turned himself into authorities on Friday and is facing prices that he stole additional than $2.7 million in client funds.

Kossoff was released on his individual recognizance, but a felony court docket decide ordered him to surrender his passport and not depart the state, the Manhattan district attorney’s business mentioned.

Prosecutors alleged in a criticism that Kossoff took client cash totaling $2.76 million from his firm’s escrow accounts. But at Friday’s listening to, prosecutors advised the courtroom they considered Kossoff had taken $14 million in a plan that lasted much more than 3 decades, a spokesperson for the Manhattan D.A. claimed.

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Kossoff’s up coming visual appearance in courtroom is scheduled for Dec. 9, when Manhattan prosecutors instructed a U.S. individual bankruptcy judge previous thirty day period they hope him to plead guilty. His lawyer, Walter Mack of Doar Rieck Kaley & Mack, declined to comment.

Prosecutors say concerning 2017 and 2021 Kossoff emptied an escrow account keeping $2.425 million that belonged to customer 118 Duane LLC and $241,966.74 belonging to Ambassador Hotel LLC. They also allege he took all but $56,584.93 in escrow money belonging to Irwin Ostrega.

Kossoff, once a fixture in the New York serious estate scene, is billed with grand larceny in the first, next and 3rd degrees, and plan to defraud in the initial diploma.

Kossoff’s legislation agency, Kossoff PLLC, was compelled into bankruptcy in Could, just after 118 Duane LLC and other former shoppers claimed it had misappropriated more than $8 million from its escrow accounts. An attorney for 118 Duane LCC did not react to a request for comment.

Go through Additional:

N.Y. actual estate lawyer Kossoff to plead guilty, Manhattan DA suggests

Dewey & LeBoeuf bankruptcy vet tapped for Kossoff circumstance

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