Asbury Park based Attorney Indicted For Theft
Gallagher faces up to 15 years for stealing over $70,000 from clients
A Monmouth County grand jury has returned a two-count indictment against Asbury Park based attorney William Gallagher, for allegedly misappropriating more than $70,000 from clients, Monmouth County Prosecutor Christopher J. Gramiccioni announced Tuesday evening.
Gallagher, 70, whose law practice address is listed as 1321 Memorial Drive, is charged with one count of second degree theft by failure to make required disposition and the third degree crime of misapplication of entrusted funds, according to a written news release.
Gallagher, a Fordham University graduate, began practicing law in the state since 1968. According to a Local Government Financial Disclosure statement, once served as borough attorney in Lake Como.
The indictment comes following a 19-month investigation into his representation of plaintiffs in various civil actions, sparked by a complaint from a victim who did not receive $23,037.35. The female client said she was owed the funds following a civil settlement related to a premises liability action. Despite repeated requests Gallagher failed to provide the funds to his victim.
From the news release:
The investigation revealed Gallagher took advantage of his position of trust by stealing from clients on three separate instances in 2013 and 2014. Gallagher negotiated settlement agreements on behalf of his clients, but after the money was placed into his firm’s attorney trust account, he then transferred the money to himself. In total, Gallagher is charged with stealing $71,615.69.
Gallagher has been suspended from practicing law in the state of New Jersey since January 2015.
If convicted of the second degree theft by failure to make required disposition, Gallagher faces a five to ten year prison sentence. For the third degree misapplication of entrusted funds, he faces a three to five year prison sentence.
The case is assigned to Monmouth County Assistant Prosecutor Jordan L. Williams.
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