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Lawyer Pleads Guilty to Million-Dollar Embezzlement
A New York attorney has pleaded guilty to conspiracy to defraud the United States and tax evasion, stemming from a scheme to embezzle millions of dollars from a deceased client’s estate.
Steven M. Etkind, 56, of New York, New York, admitted in court to stealing more than $3.5 million from the estate of a successful entrepreneur who named Etkind as co-executor of his $35 million estate.
According to the indictment, Etkind set up a phony charitable organization, the United Jewish Education Foundation, and used it to steal the funds. He then directed his co-conspirator to write checks to a bank account in the name of JE Capital Holding Corp., a nominee corporate entity he controlled.
Etkind also directed more than $3 million to be used to purchase a 6,300 square-foot home in Southampton, New York, which he later transferred to a nominee trust he controlled.
To conceal his embezzlement, Etkind filed fraudulent personal, corporate, and charitable trust returns with the Internal Revenue Service.
As part of his plea agreement, Etkind agreed to pay restitution in the amount of $1,208,245 to the IRS and faces a maximum sentence of five years in prison for each of the two counts against him. Sentencing is scheduled for January 18, 2019.
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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