Scarsdale Attorney Pled Guilty to Stealing $1M+ from Clients

A Scarsdale attorney faces up to 15 years in state prison stealing more than $1.4 million from his real estate clients.

Acting Westchester County District Attorney said Monday Michael Lippman, 71, pled guilty to second-degree grand larceny, second-degree criminal tax fraud and first-degree scheme to defraud, all felonies.

Betweten Jan.1, 2010, and Sept. 15, 2015, Lippman deliberately defrauded multiple clients of money entrusted to him for various reasons, including the transfer of real estate and estate planning.

One client had approximately $431,000 stolen, which was intended to complete the purchases of a property.

Another example is that Lippman stole $159,431.95 from a client who intended to have the money pay off a mortgage to forestall foreclosure.

Thirteen clients were defrauded of $1,487,461.61.

Lippman is also accused of non-payment of taxes to New York State in excess of $50,000.

The investigation was carried out by the District Attorney’s office with the assistance of the New York State Department of Taxation and Finance.

Lippman will be sentenced June 8. He remains out on bail of $50,000.

Photo caption: Michael Lippman. Photo credit: Courtesy.