Lawyer returns to NJ to face charges he stole $1M
TRENTON, N.J. - December 13, 2011 (WPVI) -- A Philadelphia attorney indicted for allegedly stealing more than $1 million from an elderly New Jersey client has been delivered to New Jersey to face theft and other charges.
Michael Kwasnik was arrested in Alabama last month. On Tuesday he was turned over to U.S. Marshals in Philadelphia and taken to the Camden County Jail. He's held on $1 million bail.
Kwasnik is accused of using his client's money to pay investors and his law office's operating expenses.
He faces counts of theft, misapplication of entrusted property and money laundering, which carry a maximum sentence of 10 years in state prison.
The state Attorney General's Office alleges in a separate lawsuit that Kwasnik, his father and others raised approximately $8.5 million from numerous elderly investors and misappropriated the funds.
new jersey, fraud, ponzi scheme, crime
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