A lawyer who misappropriated about $150,000 of a member of the public's money has been struck off and fined $50,000, the NZ Law Society says.
Auckland lawyer Anthony Vincent Ram was found guilty by the Lawyers and Conveyancers Disciplinary Tribunal of three charges of misconduct brought by the Law Society.
Mr Ram misappropriated about $150,000 he received on behalf of the complainant who owned a house, which was sold by mortgagee sale.
The second charge was that he acted for a member of the public despite his practising certificate as an in-house lawyer not permitting him to do so, Law Society president Chris Moore said.
The third charge of misconduct was for failing to produce files and documents as requested by the Auckland Standards Committee investigating the matter.
In-house lawyers could not hold money or other valuable property for or on behalf of another person, Mr Moore said.
"A misappropriation of funds held by a lawyer on behalf of a member of the public is completely unacceptable and the public can be assured that if it happens strong action will be taken."
The tribunal ordered Mr Ram to pay the maximum compensation of $25,000 on each of two charges as well as pay costs and reimburse hearing costs to the Law Society.
Mr Ram has indicated he will be challenging the tribunal's decision, Mr Moore said.
