Former Real Estate Attorney Admits Stealing Closing Funds

Allison Tussey —  April 4, 2013 — 1 Comment

Kevin Hymes, 40, North Castle, New York, pled guilty to: two counts of Grand Larceny in the Second Degree, class C Felonies, two counts of Grand Larceny in the Third Degree, class D Felonies, one count of Scheme to Defraud in the First Degree, a class E Felony, relating to the theft of approximately $2,000,000.

Over a five and one half year period, between Jan. 1, 2007, and June 27, 2012, the defendant, who was a real estate attorney with an office in White Plains, New York, defrauded several individuals and entities by making false representations in connection with real estate closings.

In March 2010, the defendant while acting in his capacity as attorney for two clients in connection with the sale of real property, stole $318,453.33 by concealing the date and time of the real estate closing and by failing to forward the monies.

Between May 20, 2010, and June 22, 2010, acting in his capacity as attorney for the seller of property, the defendant stole a $33,000 deposit from a prospective purchaser.

Between Nov. 8, 2010, and Nov. 9, 2010, the defendant acting in his capacity as attorney for the seller of property, stole a $10,000 deposit from a prospective purchaser.

Between March 21, 2011, and April 13, 2011, the defendant, acting in his capacity as an attorney for the seller of property, stole $123,500 by failing to forward the deposit and by personally using the money.

Additionally, the defendant also stole approximately $1.4 million dollars in his capacity as a closing agent for several banks.

On June 27, 2012, the defendant was arrested by investigators from the Westchester County District Attorney’s Office.

The defendant faces a maximum sentence of 15 years in state prison when sentenced on April 23, 2013.

The defendant was convicted in the Southern District of New York for conspiracy to commit bank and wire fraud charges in connection with a $58 million mortgage fraud scheme and was sentenced on Jan. 28, 2013.

His federal sentence will run concurrent to his state sentence.

The defendant has been disbarred from the practice of law.

Westchester County District Attorney Janet DiFiore announced the guilty plea.

Assistant District Attorney Shara Abraham of the Public Integrity Bureau is prosecuting the case.

Following the guilty plea, District Attorney Janet DiFiore said, “Today’s guilty plea holds this defendant accountable for fraudulent conduct that caused serious financial damage to his victims, who entrusted him with their personal affairs and bank accounts. He defrauded numerous clients regarding sales and purchases of multiple real estate properties throughout the metropolitan area. The public must have confidence that their sales and purchases are being honestly and ethically transacted, or as we have witnessed in the housing crisis that we are only now beginning to recover, the whole system will collapse.”

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Allison Tussey

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