Suit Accuses Ga. Law Firm of Usury for Recommending Loan with 50% Interest Rate

A Georgia lawyer has been accused of usury in a malpractice suit that claims he advised two clients to take out a loan at a 50 percent interest rate through a legal funding company run by his law firm.

The suit names Savannah lawyer David Eichholz, who took over the Eichholz Law Firm after his father, Benjamin Eichholz, was convicted of obstruction of justice, the Savannah Morning News reports. The firm and Pacific Legal Funding are also defendants.

The plaintiffs, Angelita Sanders and her husband, Mark, also claim the firm advised the couple to execute a release that left them unable to recover all available insurance after Angelita’s car accident.

Eichholz’s lawyer, Doug Herman, told the Savannah Morning News he anticipates a vigorous defense.

Previous coverage:

ABAJournal.com: "PI Attorney Gets 21 Months for Mishandling Law Firm Retirement Accounts"