Image from Shutterstock.com.
Bruce Matson, the previous normal counsel of the disbanded law firm LeClairRyan, has been disbarred in Virginia after he was accused of misappropriating cash from a chapter belief account.
Matson was accused of withdrawing $2.eight million from a wind-down account for LandAmerica and placing the cash in private accounts for himself and one other lawyer who assisted with the liquidation. Matson was the trustee for the chapter wind-down.
Matson consented to the Nov. 16 disbarment. In an affidavit, Matson stated his place is that he disbursed $1 million to himself and $1.5 million to the opposite lawyer as private bonuses. He additionally stated he preserved one other $341,000 in an escrow account in his title.
The transfers have been made final yr in January, February and April. LeClairRyan’s companions voted to dissolve the agency in August 2019.
According to Richmond BizSense and Law360, the opposite lawyer who obtained the cash is a former adviser at Protiviti, an organization engaged on the chapter case that found that the cash was lacking.