Attys Scammed By Web Trusts Must Notify Clients: NYC Bar (Law360)

Law360, April 30, 2015

Attys Scammed By Web Trusts Must Notify Clients: NYC Bar

Attorneys defrauded by Internet scammers that use web-based trusts to dupe law firms out of millions of dollars have an obligation to promptly notify other clients of the firm that may have been harmed through the scam, according to a Wednesday ethics opinion from the New York City Bar Association. The Committee on Professional Ethics issued a formal opinion detailing how Internet scammers are able to defraud firms and attorneys, and outlining the ethical obligations that attorneys face when they learn or suspect that their firm has been the victim of such a fraud.

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