A former New Jersey lawyer has admitted to his role in a money-laundering scheme that prosecutors say sapped $125,000 of client money into his law firm’s account to disguise the source of the fraud.
Michael W. Kwasnik, who was previously associated with the Cherry Hill firm of Kwasnik, Rodio, Kanowitz & Buckley and a successor firm, pleaded guilty on Wednesday before Senior Judge Robert Kugler of the U.S. District Court for the District of New Jersey in Camden and faces up to 20 years in prison and a $500,000 fine, according to the U.S. Attorney’s Office for New Jersey.
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