Opinion ID: 1357458
Heading Depth: 1
Heading Rank: 6

Heading: Margaret Schultz Matter

Text: Margaret Schultz purchased property and hired respondent to represent her. She entrusted respondent with a cashier's check from her home equity line of credit for $175,000 and a check for $5,000 from her personal account. Respondent was to bring this money to the closing. Respondent failed to bring the money, but assured the attorney who conducted the closing he would satisfy the seller's mortgage with the $180,000 in his possession plus approximately $17,397.30 given to him as a result of the closing. Respondent exchanged the cashier's check for $175,000 for two checks, one for $95,000 payable to respondent and one for $80,000 payable to First Federal Bank. The check to First Federal was used to satisfy the debt of another client. Respondent used the $17,397.30 check given to him at the closing to purchase one cashier's check payable to himself in the amount of $7,000 and another one payable to himself in the amount of $7,112.98. He also purchased a cashier's check payable to Charleston County Treasurer in the amount of $3,284.32. The two checks payable to respondent were recovered and turned over to a court-appointed trustee. However, respondent misappropriated the rest of Schultz's money.