Opinion ID: 1939379
Heading Depth: 1
Heading Rank: 3

Heading: Carol Wright Matter

Text: Carol Wright of Philadelphia met Respondent in March 1982 after being referred to him through a friend of hers who had made successful financial investments with him. Wright was looking for someone to advise her legally and financially. Respondent, a member of the bar of this state, was an insurance agent in Philadelphia. He resided in this state and had printed stationery indicating he was an attorney at law and was in partnership with another attorney with an office at 2102 Laurel Road, Lindenwold. The 1982 New Jersey Lawyers Diary indicated that his law office was located in Paterson, which, in fact, was his mother's address. Although Wright's testimony was not wholly consistent with the evidence produced at the Ethics Committee hearing, the Board finds as a fact that she first gave Respondent money on March 11, 1982 and not February 11, 1982 as she had testified at that hearing. On March 11, 1982 she went to Respondent's office and was introduced by Respondent to a William Smith who was investing in land to build a casino in Atlantic City. She gave Respondent $3,000 in cash. In return, Respondent gave her a promissory note which stated that he received the money for Smith and would pay her $6,000 before February 11, 1984. [] On March 23, 1982 she gave Respondent $7,000 in cash and on the following day, $10,000 in cash. On his attorney stationery, Respondent gave her promissory notes that he would pay her $14,000 before April 23, 1982 and $20,000 before April 24, 1982. In both notes, he personally guaranteed the initial investment amount to her. Wright gave Respondent this money to invest in oil deals. He assured her that he was knowledgable in this field and had made similar investments for others. She trusted Respondent with her money because he was an attorney and because of his stated experience in oil investments. She later had difficulty contacting him to learn the status of her investment. Having left her job, she depended on the doubling of her investment to enroll in college. When she questioned him as to what he did with her money, she maintained Respondent stalled her. He stated that he was attending frequent meetings in New York concerning this investment and that the investments would take time.