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 Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Thursday, January 16, 2003
Arrest of Former Attorney in Theft from Client
Nassau County District Attorney Denis Dillon today announced the arrest of a former attorney from Sea Cliff, for the theft of approximately $77,500 from a client.
Richard Bruce Claro, 56, whose last known address is 16 Lafayette Avenue, Sea Cliff, New York is charged with Grand Larceny in the Second Degree, a Class C Felony punishable by up to 15 years in prison.
According to Dillon,
Between about September 1 and November 14, 2002, the defendant represented a client in the sale of his home. The defendant received a contract down payment in the amount of $77,500 from the purchaser of the home. That money was to be held in escrow. At the closing on November 14, 2002, the defendant gave the seller of the home a check in the amount of $76,500 (having charged a legal fee of $1,000). The check bounced, however, due to insufficient funds, and to this date the defendant has not paid any of the funds owed to his client, despite promising to do so in response to the clients requests.”
Claro, who resigned from the practice of law effective November 18, 2002, will be arraigned today in First District Court, Hempstead. The charges are merely accusations, and the defendant is presumed innocent until and unless proven guilty.
 mortgage fraud
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