| ► Attorney Stephen David of Dedham, MA; ethical dwarf |
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Attorney Stephen David of Dedham, MA; ethical dwarf
The state of Massachusetts presented Stephen T. David with a law license in 1981.
The Board of Bar Overseers found Stephen guilty of the following misconduct.
In one matter, Stephen represented the co-owner of a construction company who was the seller in the proposed sale of a personal residence to a husband and wife.
Subsequently, the seller entered into a purchase and sale agreement (P&S) with the buyers wherein the buyers agreed to purchase the seller’s home. The P&S agreement provided that the closing would take place on November 30; named Stephen as escrow agent, and provided that he would hold all deposits in escrow.
Stephen failed to disclose to the buyers that he was in business with the seller and that the seller planned to use the proceeds of the sale to build a new home through the construction company partly owned by Stephen.
The buyers then paid Stephen a $10,500 deposit to hold in escrow until the closing. As escrow agent, Stephen was prohibited from disbursing the escrow funds without instructions from the buyers and seller.
Shortly after he received the $10,500 deposit from the buyers, Stephen paid the full amount to his client, the seller, to be used as a down payment on a new home that the seller was building for himself. Stephen didn’t request permission from the buyers to release their escrow funds. Stephen’s client deposited the $10,500 in escrow funds into a checking account for the construction company that was partially owned by Stephen. Stephen never disclosed to the buyers that their deposit had been paid to the construction company he jointly owned.
As a consequence of his misconduct, the apologists for Attorney Misfits sitting on the Board of Overseers punished Stephen by gifting him with a complimentary reprimand.
As we speak (ca. March 2013) Stephen practices with the Law Offices of Stephen T. David, P.C. at 30 Eastbrook Road in Dedham, Massachusetts.
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