Bilking Elderly Clients Gets NJ Lawyer 10-Year Sentence
A New Jersey lawyer has been sentenced to 10 years in prison for fleecing millions of dollars from his elderly clients.Ocean County Superior Court…
October 26, 2018 at 04:48 PM
3 minute read
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A New Jersey lawyer has been sentenced to 10 years in prison for fleecing millions of dollars from his elderly clients.
Ocean County Superior Court Judge Michael Collins sentenced the lawyer, former Manchester solo Robert Novy, now 67, to prison.
The sentence, issued Oct. 26, conforms to a plea agreement between Novy and the state Attorney General's Office, according to a release.
“Novy preyed upon vulnerable seniors who trusted him as their attorney to guard their interests. Instead, he callously stole their life savings, betraying their trust and the oath he took to uphold the law,” said Attorney General Gurbir Grewal in a statement
Novy's Attorney, Gerald Krovatin of Krovatin Klingeman in Newark, didn't immediately return a call seeking comment.
According to prosecutors, the plea agreement also requires Novy to pay restitution to his victims out of two funds created from assets previously seized from him: one for $3 million for victims already identified, and another for $1 million for victims identified later, the release said.
The deal also requires Novy to surrender his New Jersey law license and pay a $500,000 penalty.
Novy was the subject of a 10-count indictment charging him with misapplication of entrusted property, and multiple counts of theft and money laundering. Novy's victims typically did not have close relatives to monitor their interests, and, in some cases, the clients suffered from dementia, prosecutors said, charging that he used the stolen funds for his own benefit, paying personal and business expenses. He was accused of taking control through wills, powers of attorney, and trust documents, making himself the sole financial decision-maker for the clients.
As an elder law practitioner, Novy previously hosted a bimonthly radio program, “Inside the Law,” on WOBM in Lakewood, which focused on topics of concern to senior citizens.
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