White-Collar Crime

Ex-Lawyer Gets 5 Years for Swindling Clients Out of $4.3M

A now-disbarred Georgia lawyer was sentenced today to five years and three months in federal prison for swindling clients out of $4.3 million.

M. Dewey Bain, 59, must also pay restitution for the money he took from clients, promising to hold their money in trust and invest it safely but instead converting it for his own personal and business use, reports the Atlanta Journal-Constitution, relying on information from the prosecution.

Bain pleaded guilty to one count of wire fraud earlier this year.

One of the victims, who is now 97, told the court she can no longer afford her assisted living residence and must stay with relatives after losing $1 million that Bain promised to invest in certificates of deposit.

The article doesn’t include any comment from Bain or his counsel.

He could have been sentenced to a maximum of 20 years, reports My Fox Atlanta.

Ethics Panel Nixes Charity Plan to Auction Lunch Dates with Judges

Survey Finds 'Deep Vein of Anger' Among Women Partners Over Law Firm Pay Gap

We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.

Commenting is not available in this channel entry.