Tuesday, January 15, 2008

Giving new meaning to a 401K plan

PressHerald reports the latest on the Verrill Dana attorney who stole client funds, and his own partner's money.
Also Monday, the firm disclosed the amount -- $401,000 -- that former partner John D. Duncan is accused of stealing. The Falmouth resident had been a trusts and estates lawyer for Verrill Dana for 29 years, and was expelled by the firm in November.

Ginn said an external audit showed Duncan embezzled $185,000 that was supposed to have been shared with the more than 50 partners in the firm. The audit showed Duncan stole $109,000 from a total of 10 client accounts, beginning in 1997 and ending in January of last year. Duncan also allegedly overbilled three clients for a total of $107,000. Ginn said those totals could change, as the firm continues its own review and receives information from former Duncan clients.

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