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New York real estate attorney Kossoff to plead guilty, Manhattan prosecutor says

 


A sign is visible outside the US Bankruptcy Court for the Southern District of New York in Manhattan, New York, United States, January 9, 2020. REUTERS / Brendan McDermid

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  • Letter from attorney to bankruptcy judge does not detail criminal charges
  • Mitchell Kossoff’s company forced into bankruptcy following civil lawsuits for embezzling client funds

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A New York real estate attorney who has been accused by creditors of abusing client funds has reached a plea deal with prosecutors and will be surrendered for arrest next month, the attorney’s office said on Tuesday. Manhattan district to a federal bankruptcy judge.

In a letter to U.S. bankruptcy judge David Jones, prosecutors said they expect attorney Mitchell Kossoff to surrender on or around Dec. 3 and plead guilty a week later. The letter did not specify the criminal charges or include details of Kossoff’s plea.

Kossoff PLLC was forced into bankruptcy in May after creditors claimed Kossoff, once a fixture on the New York real estate scene, embezzled more than $ 8 million from the law firm’s escrow accounts.

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Kossoff attorney Walter Mack declined to comment. Mack said Kossoff would cooperate with the bankruptcy proceedings if he was granted immunity from prosecution. Kossoff did not respond directly to claims from his creditors in bankruptcy court.

A representative for District Attorney’s Office Cyrus Vance declined to comment.

The prosecutor’s letter asked Jones to extend his deadline to respond to Al Togut, the Chapter 7 administrator overseeing the disbandment of Kossoff PLLC. Togut is looking for grand jury documents relating to prosecutors’ investigation of Kossoff and has asked Jones to force the district attorney to turn them over.

Once Kossoff pleads guilty, the grand jury investigation will be over, rendering the dispute moot, prosecutors said. The office will seek a court order allowing documents to be shared with Togut, the letter added.

“We believe that letting the criminal proceedings run their course will be the most effective way to resolve these issues and avoid unnecessary expenditure of resources,” prosecutors said.

Togut has struggled for months to obtain the documents he needs to administer the estate of the late law firm. Togut said in an email Tuesday that he was still frustrated not having access to the files seized by prosecutors.

Monday, Jones warned that he would issue an arrest warrant against Kossoff if he did not comply with orders to turn over key documents to Togut by November 30.

Read more:

Judge to jail New York real estate lawyer over bankruptcy documents

Trustee wants New York lawyer jailed for failing to cooperate with company bankruptcy

Dewey & LeBoeuf bankruptcy vet solicited for Kossoff case

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Report by David Thomas

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