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N.Y. real estate lawyer Kossoff to plead responsible, Manhattan DA says

  • Prosecutors’ letter to chapter decide does not element prison expenses
  • Mitchell Kossoff’s agency pressured out of business following civil claims he misappropriated shopper funds

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A New York real estate lawyer who has been accused by collectors of misusing shopper funds has reached a plea settlement with prosecutors and can give up for arrest subsequent month, the Manhattan district legal professional’s workplace instructed a federal chapter decide on Tuesday.

In a letter to U.S. Bankruptcy Judge David Jones, prosecutors stated they count on legal professional Mitchell Kossoff to give up on or about Dec. 3 and to enter a responsible plea per week later. The letter didn’t specify the prison expenses or embrace particulars about Kossoff’s plea.

Kossoff PLLC was pressured out of business in May after collectors claimed Kossoff, as soon as a fixture within the New York real estate scene, misappropriated greater than $8 million from the regulation agency’s escrow accounts.

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A lawyer for Kossoff, Walter Mack, declined to remark. Mack has stated Kossoff would cooperate within the chapter proceedings if he’s granted immunity from prosecution. Kossoff has not responded instantly to his collectors’ claims in chapter courtroom.

A consultant for District Attorney Cyrus Vance’s workplace declined to remark.

The DA’s letter requested Jones to prolong its deadline to reply to Al Togut, the Chapter 7 trustee overseeing the dissolution of Kossoff PLLC. Togut is looking for grand jury supplies relating to prosecutors’ investigation of Kossoff and requested Jones to pressure the district legal professional to flip them over.

Once Kossoff has entered his responsible plea, the grand jury’s investigation might be full, rendering the dispute moot, prosecutors stated. The workplace will search a courtroom order permitting supplies to be shared with Togut, the letter added.

“We believe that allowing the criminal process to take its course will be the most efficient means of resolving these issues and will avoid unnecessary expenditure of resources,” prosecutors stated.

Togut has struggled for months to acquire paperwork he says he wants to administer the defunct regulation agency’s estate. Togut stated in an e-mail Tuesday that he’s nonetheless pissed off that he doesn’t have entry to the data prosecutors seized.

On Monday, Jones warned that he would problem a bench warrant for Kossoff’s arrest if he didn’t adjust to orders to flip over key paperwork to Togut by Nov. 30.

Read extra:

Judge poised to jail N.Y. real estate lawyer over chapter docs

Trustee needs N.Y. lawyer jailed for not cooperating in agency chapter

Dewey & LeBoeuf chapter vet tapped for Kossoff case

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Reporting by David Thomas
David Thomas

David Thomas reviews on the enterprise of regulation, together with regulation agency technique, hiring, mergers and litigation. He is predicated out of Chicago. He could be reached at d.thomas@thomsonreuters.com and on Twitter @DaveThomas5150.

A sign is seen outside the U.S. District Bankruptcy Court for the Southern District of New York in Manhattan, New York, U.S., January 9, 2020. REUTERS/Brendan McDermid

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