Thread Starter: Anonymous
Title: Re: Attorney Issuing Cashier's Checks from IOLTA
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I know that attorneys are responsible for keeping track of transactions out of their IOLTA accounts and the way to do that is by writing checks. We have one attorney who will go the branch and instead withdraw from the IOLTA account and issue multiple Cashier's Checks to one of his clients. The client then goes to the branch and cashes them at different times. The individual amounts are large enough to warrant a CTR and they are filed regularly but I'm wondering why he would disburse the funds in this way to this one client? An internet search shows his client has been charged with stealing money from elderly associates.
Maybe I'm looking into this too much but I find it odd that he's conducting the transactions like this for one particular client and since I'm not an expert in IOLTA accounts I don't know if this is a way to hide or layer the disbursements to a individual who's currently charged with stealing from others.
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