Big pile of money. Disciplinary Ruling Exposes Flaw in IOLTA Rules
That a lawyer can keep more than $225,000 in unclaimed money in his or her IOLTA account indefinitely is insane. But the current rules in Connecticut allow it.
April 17, 2024 at 10:04 PM
3 minute read
Legal Ethics and Attorney DisciplineIn the recent decision of the Office of Chief Disciplinary Counsel v. Enrico Vaccaro, a lawyer was allowed to carry a balance of $226,121.93 in his IOLTA account without any identified or known client. The balance had been held since before 2017.
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