A New York lawyer pleaded guilty on Friday to fraud charges after withdrawing more than $500,000 from a real estate trust he managed.
Edward Miller, 70, of Lawrence, New York, renounced his right to an indictment and pled guilty in Bridgeport federal court to a fraud charge originating from the misappropriation of trust funds.
Prosecutors said Miller was a New York attorney who in December 2014 established a trust for the victim to manage certain property, including a commercial building in New Canaan. Edwards was selected to manage the M.P. Trust’s real property finances, which included transferring rental income from the commercial building into the trust account, paying building management charges, and distributing payments to the victim. Miller also oversaw the building’s maintenance. According to the agreement, Miller would receive 5% of total monthly rents collected, as well as any agreed-upon commissions for new tenant leases and renewals.
Miller embezzled almost $500,000 from the trust between February 2016 and September 2022 by writing and negotiating improper cheques to himself, his law practice, and his relatives for personal gain. He also made unauthorized withdrawals and transfers from the trust bank account for his personal gain. After the victim died in 2022, prosecutors claimed Miller made fraudulent claims and assurances to the deceased’s beneficiaries about the trust’s assets’ identification, whereabouts, and disbursement.
Miller pleaded guilty to wire fraud, a crime punishable by up to 20 years in jail. Miller already paid $509,372.82 in restitution as part of a settlement of the victims’ separate civil action.
Miller was released on a $200,000 bond pending his sentence on August 13.
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