A former Crowell & Moring attorney accused of embezzling more than $7 million in client funds is being held without bail after his extradition from Hong Kong. Douglas Arntsen, 34, was arraigned on Jan. 20 on two counts of first-degree grand larceny, a B felony, and one count of first-degree scheme to defraud, an E felony. The B felony carries a maximum 8 1/3 to 25-year sentence.
Mr. Arntsen, a real estate attorney with Crowell & Moring from 2007 to 2011, is accused of stealing the funds from Regal Real Estate, a management company. Last year, Crowell & Moring settled a suit with Regal (NYLJ, Dec. 12). According to prosecutors, Mr. Arntsen is under investigation for the alleged theft of another $21 million from a second corporate client.
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