3 Disciplinary L. & Proc. Advance Sheets 1 (1979)

handle is hein.journals/dislwpr3 and id is 1 raw text is: V             1w                            J

Case Summaries

FIDUCIARY DUTIES
MORAL TURPITUDE
TRUST FUNDS

A lawyer was appointed successor
trustee of a fund in which he and his
sisters were remainder persons. Acting as
trustee, the lawyer accomplished liquidation
of the assets held in trust and deposited
them in his attorney's trust account.
Subsequently, the lawyer without consent
used the funds in a mining operation that
failed; the funds were lost. When the
sisters inquired as to possible
reimbursement from the clients'security
fund, the disciplinary agency instituted an
inquiry and filed charges.
The respondent agreed that although
moral turpitude was involved in his
diversion of funds, an attorney-client
relationship did not exist between him and
his sisters. The court found that the
respondent failed to fulfill his fiduciary
responsibilities to his sisters, and
misused and abused his attorney trust
account. The court stated, In no fashion
can the personal invasion of the funds of
others deposited in such an account be
condoned, justified, or rationalized,
whatever the personal urgency of the moment
may appear to be, or however faithful to his

Editors: M. L. Proctor and Herbert M. Rosenthal; Contributing Editors: R. Walter Bachman, Jr. (Northwestern), Mary M. Conrad (Northeastern).
William W. Gilbert (Pacific Mountain), John W. Herron (Atlantic), M. L. Proctor (Federal Appellate Courts), Robin Alexander Smith (Federal
District Courts), Ronald W. Stovitz (Pacific Coastal), John A. Weiss (Southern), Leslie G. Whitmer (Southwestern), and James R. Wrenn. Jr.
(Southeastern); ABA Press Production Supervisor: Gretta Spier.
Published monthly by the National Center for Professional Responsibility and the Standing Committee on Professional Discipline of the
American Bar Association. Address all correspondence to Editor, Disciplinary Law and Procedure Advance Sheets, National Center for Profes.
sional Responsibility, American Bar Association, 77 South Wacker Drive, Chicago, Illinois 60606, telephone (312) 621-9250.
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Copyright @ 1979 National Center for Professional Responsibility and American Bar Association. All rights reserved to copyright owner
including rights to reproduce or distribute.

Volume 3, Number 1

January, 1979

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