A Cherry Hill lawyer hired by an elderly widow to administer her husband’s estate got her to place millions of dollars worth of assets in a trust with his firm as trustee, even though a professional corporation cannot serve in that role, a Camden County suit charges.
The attorney, Michael Kwasnik, also transferred estate property to a company he created and borrowed more than $3.5 million against the property without the client’s knowledge, says the complaint in Labricciosa v. Kwasnik, CP-0044-2010, alleging Kwasnik breached his fiduciary duty, converted trust assets funds and committed malpractice and waste.
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