Credit: Atstock Productions/Shutterstock.com Reprimand for NJ Lawyer Who Accepted $75,000 in Improper Loans From Clients
The Supreme Court's Disciplinary Review Board found that the loans were improper because the attorney failed to advise the clients in writing to seek independent legal advice about the loans, and failed to obtain the clients' informed consent in writing.
January 29, 2021 at 03:02 PM
3 minute read
A New Jersey attorney has drawn a reprimand from the state Supreme Court for accepting $75,000 in improper loans from clients.
The Supreme Court's Disciplinary Review Board found that the loans were improper because the attorney failed to advise the clients in writing to seek independent legal advice about the loan, and failed to obtain the clients' informed consent in writing attesting to the loan terms and stating whether the lawyer is representing the clients in the transaction.
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