Title Lawyer Gets 29 Months, Loses 'Ticket' After $16.3M Escrow Swindle; Bar's 'Attorney Ripoff Reimbursement Fund' May Be Left Holding Heavy 'Bag'

The South Florida Sun Sentinel reports:

• A Boca Raton real estate title attorney has been disbarred for five years, the Florida Bar announced Thursday, two days after he was sentenced to 29 months in federal prison on bank fraud charges.



• Bar records show that Andrew Mark David, an agent with the Attorney's Title Insurance Fund, did not document $16.3 million in escrow disbursements for closings. The bar said Angel Puentes, a non-lawyer with several real estate investment companies who became affiliated with David's practice, took most of the money for himself.



• David pleaded guilty to both the bar complaint and federal charges, although he said he was unaware of Puentes actions and denied wrongdoing. He received a reduced sentence for cooperating with federal investigators, and agreed to be part of a $4.4 million restitution, court documents show. The case against Puentes is pending.



• "Mr. David is very remorseful for his conduct. He did not knowingly defraud anyone," said Allen Stewart Katz, David's attorney.

Source: Boca title attorney disbarred after sentencing on bank fraud charges.

See also: The Florida Bar v. David - Referee's Report for the results of The Florida Bar probe:

Among the referee's recommendations:

• Respondent will make reasonable efforts to reimburse The Florida Bar’s Clients' Security Fund if it issues any payments to compensate the victims of his misconduct.(1) Respondent must repay to the Clients’ Security Fund all monies paid out as a result of his misconduct, as a condition precedent to his eligibility to apply for readmission to The Florida Bar.

(1) The Florida Bar's Clients' Security Fund was established to reimburse clients who have suffered a loss due to misappropriation or embezzle­ment by a Florida-licensed attorney.

For similar "attorney ripoff reimbursement funds" that sometimes help cover the financial mess created by the dishonest conduct of lawyers licensed in other states and Canada, see:

• Directory Of Lawyers' Funds For Client Protection (now includes Canadian recovery funds, courtesy of the American Bar Association);


• Check the USA Client Protection Funds Map;


• Check the Canada Client Protection Funds Map.

Maps available courtesy of The National Client Protection Organization, Inc.