Boston Lawyer Accused of Embezzling Over $2 Million from Clients
A Boston attorney, Patrick J.Dolan, is facing federal wire fraud charges for allegedly embezzling more than $2 million entrusted to him by clients. Prosecutors stated Dolan, who resides in North Attleborough and Haverhill, misused these funds for personal expenditures, including mortgage payments and educational tuition. the accusations detail a multi-year fraudulent operation involving significant client assets managed by the legal professional.
Federal prosecutors revealed that Dolan is accused of a prolonged scheme involving $2 million he held in escrow during a family trust lawsuit. He represented a party in this litigation, and it is indeed alleged he diverted funds to shell companies or family members. These illicit transfers were reportedly used to cover personal expenses such as mortgages, student loans, tuition fees, and various other personal items and services.
Further allegations suggest dolan stole at least $87,500 from another client’s trust, which he had established. This sum was allegedly used as a down payment for a Haverhill home where he and his family resided.Prosecutors also claim Dolan manipulated bank statements and accounting records to conceal his actions, providing false information to clients and others regarding the financial matters.
It remains unclear if Dolan has secured legal portrayal to address these serious allegations. NBC10 Boston has attempted to contact Dolan for comment on the charges. The wire fraud charge carries a maximum penalty of 20 years imprisonment, underscoring the gravity of the alleged financial misconduct.
Understanding Legal Escrow and Client Trust Funds
Legal professionals often manage client funds through escrow accounts, acting as a neutral third party to hold assets during transactions or disputes.These accounts
