White-Collar Crime
N.Y. Lawyer Is Accused of Stealing At Least $400K from Real Estate Clients
Posted Aug 24, 2009 5:45 PM CST
By Martha Neil
A 47-year-old New York real estate lawyer who has been working since 2002 at Excelsior Title has been criminally charged for allegedly stealing at least $400,000 from clients.
Patrick Reidy of Saratoga Springs was arraigned today in Saratoga County Court on two counts of second-degree grand larceny concerning money he is accused of misappropriating from clients in real estate transactions, according to the Post-Star and the Times Union.
His lawyer, Mike Koenig, says Reidy is now winding down Excelsior Title's operations. Concerning the allegations against his client, he tells the Post-Star: "We will respond to the charges at the appropriate time, which is not now, and in the appropriate forum, which is not here."
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Comments
B. McLeod
Aug 25, 2009 7:14 AM CST
Charges allege diversion of $136,000 in one transaction and $272,000 in another. How could anyone possibly think this would not be noticed by the clients, even in New York State?
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