White-Collar Crime

2 Lawyers Charged in Claimed $1.1M Client Embezzlement Scheme

Two Oklahoma lawyers, one of whom is no longer licensed, have been accused of racketeering and conspiracy in an alleged $1.1 million client embezzlement scheme carried out over a five-year period.

Fred Schraeder, 59, a Tulsa attorney and William Anton, 59, who surrendered his law license in 2007 but allegedly continued to practice, are also charged with forging checks and worker’s compensation fraud, according to a press release from the Oklahoma attorney general’s office.

NewsOn6.com provides a link to the 53-count Tulsa County District Court criminal complaint (PDF) in the case.

The two men are accused of embezzling settlements from clients’ personal injury, life insurance and worker’s compensation claims.

“Numerous times, we allege, the pair would settle a claim without a client’s knowledge or consent and then forge the client’s signature on settlement and benefit checks,” states Attorney General Drew Edmondson in the release.

Updated on Oct. 26, 2011 to correct typographical error.

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