Opinion ID: 2135775
Heading Depth: 2
Heading Rank: 2

Heading: Richard Olson

Text: Count XII of the Administrator's complaint charged respondent with conversion of at least $26,252.22 of a client's, Richard Olson's, money. Olson retained respondent in anticipation of a marriage dissolution, and respondent advised Olson to set aside funds to pay for the anticipated proceedings. Respondent suggested that he hold the funds for Olson. On July 17, 1984, Olson gave respondent $24,316 to hold in escrow. On April 23, 1985, Olson gave respondent an additional $29,936.22 to hold in escrow. Respondent deposited this money into one of his personal accounts. Several times after this, between August and October 24, 1985, Olson asked defendant to return $10,000. Respondent informed Olson that the funds were not readily available but gave no explanation for the funds' unavailability. By October 24, 1985, respondent had returned $10,000 to Olson in separate $5,000 checks. Later, in February, March, and April 1987, Olson asked respondent for $20,000 to help pay real estate taxes. On each occasion, respondent again informed Olson that the funds were not readily available but offered no explanation. However, on April 23, 1987, respondent tendered a check to pay Olson's taxes in the amount of $18,000. Olson testified that he was not alarmed by the fact that he did not have ready access to his money. In fact, Olson had no objection to the way respondent handled his money. Olson had also not asked respondent to return any of the remaining money, even though he knew of the disciplinary charges against respondent. However, Olson did not give respondent authority to use any of his money for respondent's business or personal purposes. The Hearing Board found that respondent's deposit of Olson's $54,252.22 into one of respondent's personal accounts constituted conversion of client funds. The Board also found that respondent participated in a diversion of Olson's funds from the jurisdiction of the court in anticipation of litigation. The Hearing Board further found that respondent engaged in deceit in handling his client fund account with respect to reimbursements made to Olson in violation of Rule 1102(a)(4). (107 Ill.2d R. 1 102(a)(4).) The deceit involved paying Olson money from respondent's client fund account and representing the money was Olson's when respondent had not deposited any of Olson's money in the account.