| Posted on Fri, Jan. 24, 2003 | ||||||||||
Feds:
Lawyer embezzled $400,000
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BILOXI - A Gulfport lawyer has been indicted on charges that he embezzled nearly $400,000 from the bankruptcy estates of his clients.
As always the key word in any lawyer's case is, "if convicted."
Since it is well known that the Mississippi Bar Association only provides license to attorneys/lawyers, the won't be of much help to William S. Boyd III.
William S. Boyd III faces a maximum penalty of 25 years in prison and a $500,000 fine if he is convicted of bankruptcy embezzlement, bankruptcy fraud and money laundering.
It will take the federal government to make this case stick, in Mississippi lawyers investigate lawyers when caught in corruption.
I will try and keep up with this case in order to see if justice in done or not.
A woman who answered Boyd's home telephone Thursday afternoon said, "We have no comment," and hung up.
Not having a comment is a great answer, and the one I would have used.
The federal indictment comes after a seven-month investigation of Boyd's actions between December 1999 and October 2001. The FBI and the Office of the United States Trustee investigated the case.
Do you believe this lawyer will be prosecuted? Sometimes I wonder just how far corruption can go in Mississippi.
Authorities believe Boyd took for his personal use $395,500 that belonged to the bankruptcy estates of Teme River Company L.P. and Biloxi Prestress Inc. between December 1999 and December 2000, according to the 17-count indictment. The indictment also alleges that Boyd on Oct. 17, 2001, embezzled $61,000 from the estate of Bobby and Cathy Foust.
Fraud, Waste, & Abuse - embezzlement, and to think that just because Boyd is lawyer he could get off on all charges.
Boyd is charged with concealing recorded information relating to the property and financial affairs of Biloxi Prestress Inc.
Four counts of the indictment list monetary transactions that total $70,000 and were made between June 2000 and December 2000 that are related to the money laundering charges. However, court papers do not specify the nature of the transactions.
The government has ordered Boyd to forfeit any property obtained through the alleged money laundering.
STEVEN A. McCALEB
COMMENTARY
MY OPINION