Litigation

Another "Bernie" in New York City legal settlement "Ponzi"

By John Darer

The New York County District Attorneys Office says that its investigation revealed that Marc A. Bernstein  ("Bernie"), a 54 year old personal injury lawyer with Bernstein & Bernstein, LLP 330 East 33rd Street New York, NY 10016, "engaged in a scheme to steal from his victims, most of whom were individuals left physically weakened or disabled by medical malpractice or car accidents. In the typical case, Bernstein had one of his law firm associates negotiate a settlement on behalf of the victim, and Bernstein took control of the incoming settlement monies. Instead of safeguarding these funds and distributing them to his clients, Bernstein stole the money."

According to the May 19, 2009 DA news release the investigation further revealed that during the the 2 year scheme, "in many instances, the victims received false stories and promises from BERNSTEIN, along with checks from BERNSTEIN that were dishonored by the bank.  In one particular case, BERNSTEIN deposited a $650,000 settlement check into his attorney trust account, but disbursed only $85,000 to the client.  Seven months later, BERNSTEIN admitted to taking almost $400,000 of that client?s share of the settlement funds.  In other cases, where BERNSTEIN offered his clients partial payment, he embarked on a pattern of deception and withholding monies that sometimes lasted for more than a year, with BERNSTEIN sending the clients bad checks, only to finally refuse any further contact with them. BERNSTEIN typically used the stolen money to settle personal debts or make payments to other clients whose money he had misappropriated".  Sound familiar, albeit on a smaller scale?

Bernstein's law license was suspended effective April 23, 2009.

Put this guy in a cell with Madoff. If there's anything worse than Madoff's crimes it's disgraceful hoods like Bernstein, who have the tools to earn an honest living but can sleep at night jacking vulnerable victims of medical malpractice whose lives depend on their settlements. Burn "in Cell" Bernie!

Full post as published by Structured Settlements 4Real on May 21, 2009 (boomark / email).