A Korean American lawyer, who was disbarred for embezzling real estate funds from clients in New York’s Korean American community, continued to commit fraudulent crimes after his disbarment.
The U.S. Attorney’s Office, Eastern District of New York, announced on December 1 that at an arraignment in Brooklyn federal court, Hyun W. Lee, a former attorney in Closter, N.J., pleaded guilty to stealing millions of dollars from his clients in real estate transactions from his office in Murray Hill, Queens.
According to court filings and facts presented during the plea proceeding, Lee induced clients and counterparties to entrust funds to him for the purchase of real estate. He made misrepresentations that he would release the funds deposited into his escrow account. Despite being disbarred from the New York State Bar in March 2020 for his fraudulent actions, Lee continued to perpetrate the same scheme until May of this year.
“With today’s guilty plea, Lee has admitted that he preyed upon members of the Korean-American community by holding himself out as a licensed attorney after his suspension and disbarment, only to steal millions of dollars entrusted to him for safekeeping,” prosecutors said.
Lee, who will pay $3.27 million in forfeiture, could face up to 20 years in prison.
BY EUNBYUL KIM, JUNHAN PARK [kim.eb@koreadailyny.com]
