Sunday, January 22, 2012

Former New York Real Estate Attorney Suspected Of Embezzling As Much As $28 Million

Douglas R. Arntsen, 34, of Staten Island, was in court in New York City on charges he embezzled as much as $28 million from law firm clients of his while an attorney at Crowell and Moring.  Arntsen was originally suspected of the misappropriations in September 2011 after he vanished as was later arrested in Hong Kong, from which he was extradited back to New York.  Authorities allege Arntsen siphoned large sums of funds by making transfers from client escrow accounts for his own benefit.  One such client, Regal Real Estate, is reported to have lost about $5.5 million which the law firm has reimbursed.  Arntsen had been with the firm since February 2007.  Prosecutors allege that from April 2010 through September 2011, Arntsen misappropriated about $7 million in this fashion.  He is now being investigated for embezzling another $21 million.

Read the story here, here and here.

This one will definitely make the top 10 list for the year!

1 comment:

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