This matter came before the Court, Ireland, J., on an Information and Record of Proceedings and the Vote and Recommendation of the Board of Bar Overseers filed by the Board on August 6, 1999.

Upon consideration thereof, it is ORDERED and ADJUDGED that MICHAEL D. KRONICK is hereby disbarred from the practice of law in the Commonwealth retroactive to November 2, 1995, the date of his temporary suspension, and the lawyer's name is forthwith stricken from the Roll of Attorneys.

By the Court, (Ireland, J.)

Entered: August 13, 1999

On June 14, 1995, the respondent was convicted of five counts of mail fraud in violation of 18 U.S.C. Sect. 1341. From May through July 1989, the respondent prepared HUD-1 Settlement Statements on which he entered false down payment information and which failed to disclose the existence of second mortgages being taken back by the seller, provided to buyers temporary use of funds from his firm's client funds account to give the false appearance that down payments had been made when no down payments were made, and mailed false Truth-in-Lending and Good Faith Estimate documents to the mortgage lender. The ultimate loss to the lender was $645,610.55 as a result of the conduct of the respondent and others.

The respondent was indicted by a Federal grand jury on July 27, 1993. On November 2, 1995, the respondent was temporarily suspended from the practice of law in Matter of Kronick, 11 Mass. Att'y Disc. R 153.

In 1995, the respondent was living in Missouri, where he sold insurance. The respondent failed to file an affidavit of compliance with the order of temporary suspension as the order required because he did not understand that the affidavit was necessary when the lawyer had no clients and served in no fiduciary positions as of the date of suspension. Compliance forms were changed after 1995 to clarify this confusion. When the respondent learned in January 1999 that he had violated the order by not filing a compliance form, he immediately filed an affidavit of compliance. For these reasons, the hearing committee recommended that disbarment be retroactive to the effective date of the temporary suspension order.

On July 12, 1999, the Board of the Bar Overseers voted to adopt the report and recommendation of the hearing committee. On August 13, 1999, the Supreme Judicial Court for Suffolk County entered a judgment of disbarment retroactive to November 2, 1995.

1 Compiled by the Board of Bar Overseers based on the record before the Court.