Every two years, all lawyers registered to practice in New York state file with the Office of Court Administration. From each registration fee, $30 are annually directed to the Lawyers’ Fund for Client Protection (the Fund), which in turn has generated the astronomical sum of $226,000,000 in payouts to law clients who were victimized by a small fraction of thieving attorneys. The Fund, which was a creation of the State Legislature in 1981, and overseen by the seven judges of New York’s Court of Appeals, uses not one dollar of taxpayer money, nor are we affiliated in any way with more widely known IOLA program.
Columbia Law alumnus William R. Nojay, a single practitioner in Monroe County, had a career of accomplishments. A former appointee of Governor Pataki, a director of a not-for-profit foundation, and state assemblyman, he nonetheless found the time to steal over $1 million from a trusting client. The theft came from an escrow fund that Nojay established for his client during the course of an international dispute. Nojay returned $700,000, leaving his client with a $337,000 loss, which was refunded in full by the Fund.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
