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Commonwealth of Massachusetts

NO. BD-2009-016

IN RE: DAVID L. SPECTOR

S.J.C. Judgment of Disbarment entered by Justice Cowin on January 22, 2010.1

SUMMARY2

This matter came before the Supreme Judicial Court for Suffolk County on an affidavit of resignation submitted by the respondent and a recommendation of the Board of Bar Overseers that the affidavit of resignation be accepted and a judgment of disbarment be entered. In the affidavit of resignation, the respondent admitted that bar counsel could prove the following facts by a preponderance of the evidence.

The respondent represented the lender in three real estate refinancings. In each case, the respondent falsely reported on the HUD-1 settlement statement that he had used proceeds of the loan to pay off existing mortgages. Instead, the respondent converted the funds to his own use. The amounts converted totaled more than $620,000. The respondent did not make restitution. In one of these matters, the respondent misrepresented to the borrower that he had paid off her prior mortgage and made two mortgage payments to cover up his defalcation.

In addition, the respondent failed to keep records for his IOLTA account in compliance with Mass. R. Prof. C. 1.15. After he was temporarily suspended on March 11, 2009, the respondent failed to close all trust accounts and otherwise comply with the order.

The respondentís conduct in failing to promptly pay the outstanding mortgages violated Mass. R. Prof. C. 1.15(c). The respondentís conduct in converting the funds violated Mass. R. Prof. C. 1.15(b) and 8.4(c) and (h). The respondentís conduct in making false statements to the borrower and making monthly payments to conceal his conversion violated Mass. R. Prof. C. 8.4(c) and (h). His conduct in failing to inform the lenders that he had not paid off the outstanding mortgage violated Mass. R. Prof. C. 1.4(a) and (b). The respondentís conduct in falsely reporting that he had paid the outstanding mortgage on the HUD-1 forms violated Mass. R. Prof. C. 8.4(b), (c) and (h). The respondentís conduct in failing to keep a proper check register, create and maintain individual client ledgers, retain records of deposits, and reconcile his account at least every sixty days violated Mass. R. Prof. C. 1.15(f)(1)(B),(C), and (E). Finally, the respondentís conduct in failing to comply with the order of temporary suspension violated S.J.C. Rule 4:01, ß 3 and 17, and Mass. R. Prof. C. 3.4(c) and 8.4(d).

On December 15, 2009, the respondent submitted an affidavit of resignation pursuant to S.J.C. Rule 4:01, ß 15. Bar counsel recommended that the affidavit of resignation be accepted and a judgment of disbarment enter effective immediately. On January 11, 2010, the board voted to adopt bar counselís recommendation.

The board forwarded the affidavit of resignation and the vote of the board to the Supreme Judicial Court for Suffolk County. On January 22, 2010, the county court accepted the affidavit of resignation and entered a judgment of disbarment effective immediately.


FOOTNOTES:

1 The complete Order of the Court is available by contacting the Clerk of the Supreme Judicial Court for Suffolk County.

2 Compiled by the Board of Bar Overseers based on the record filed with the Supreme Judicial Court.



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