Ontario lawyer allegedly stole $4 million in funds from clients

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Bankruptcy and Insolvency Trustees

A Rockland lawyer with close to 20 years of experience had his licence suspended Thursday after approximately $4 million in funds held in trust for his clients was reported missing. A senior partner at Charron Langlois LLP says he is in shock after discovering discrepancies last week in bank accounts for Joseph Stéphane Langlois’ clients.

Langlois held approximately $4 million of his clients’ money in trust, but a recent review of the accounts show there is only about $220,000 left, according to allegations in a notice of motion filed with the Law Society Tribunal. The motion also claimed Langlois admitted to a Law Society investigator that he spent close to $1 million of the trust funds for his personal use and for his law firm.

Read more at Canoe.com.