Disbarment For Conversion

A Colorado attorney who had “knowingly converted sizeable amounts of third-party funds while serving as a qualified intermediary in their section 1031 tax-deferred exchanges” was disbarred by order of the Presiding Disciplinary Judge. While “[s]ignificant mitigating factors may overcome the presumption of disbarment” in conversion cases, none were presented. Indeed, the lawyer had defaulted and failed to participate in the disciplnary proceeding. (Mike Frisch)