USED FUNDS FROM CLIENTS’ REAL-ESTATE TRANSACTIONS TO PAY OFF HIS DEBTS AND EXPENSES
M.A.D. (47), the owner of a law firm based out of Atlanta, George, recently pleaded guilty to federal wire fraud charges. Since he oversaw “hundreds” of real-estate transactions, which provided him access to tens of millions of dollars, M.A.D. allegedly misappropriated those funds to pay his debts and expenses, including his firm’s operating costs; all to his clients’ detriment.
Of course, he used deception and artifice to make it appear that mortgages were being satisfied, and would use new funds to pay off or complete earlier real-estate transactions, until the scheme combusted.
In a written statement, U.S. Attorney Ryan K. Buchanan observed, “It is shameful for an attorney to abuse the trust placed in him by his clients, but that is exactly what [M.A.D.] did …. He misappropriated millions of dollars belonging to his clients for his personal benefit with no regard for how his clients would be affected.”
The former attorney is expected to be sentenced on January 24, 2024.
That guy had to have been MAD.
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