Ex-Quarles Partner Suspended For Not Reading Partnership Fine Print
Posted Apr 22, 2008 02:23 pm CDT
The Wisconsin Supreme Court has suspended a former Quarles & Brady partner who kept $230,000 in trustee fees because he says he didn’t realize his partnership agreement required him to turn over the money.
The nine-month suspension of Jeffrey Elverman is tougher than the one recommended by a referee, who suggested a public reprimand, the National Law Journal (sub. req.) reports. The NLJ notes that the court opted for a stiffer penalty because Elverman knowingly kept the money and didn’t report it on tax returns.
The Milwaukee Journal-Sentinel reports that Elverman eventually paid the taxes before he was contacted by the state Office of Lawyer Regulation.
Elverman’s suspension begins May 12.