Former Zeeland attorney to plead in $900,000 ... - Estate of Denial

GRAND RAPIDS, MI ? Former Zeeland attorney Kenneth Hoesch has agreed to plead guilty in a scheme to steal nearly $900,000 in clients? estate planning trusts.

Hoesch, recently found competent to stand trial, has agreed to plead guilty to charges of mail fraud, a 20-year felony, and making a false statement on a tax return, a three-year felony.

The government today filed felony information outlining the plea agreement.

Hoesch, while a licensed attorney, set up estate planning trusts for clients.

?In truth and fact, defendant Hoesch engaged in a fraudulent scheme to deprive his law clients and their intended beneficiaries of money, funds and similar property rights by the commission of a mail fraud scheme ?,? Assistant U.S. Attorney Michael MacDonald wrote in court documents.

He said Hoesch took clients? assets, and did not place them in trust accounts, or placed them in trust accounts only to withdraw funds for his own use. He also moved clients? funds to conceal the theft, and issued false reports, statements and correspondence.

Hoesch also concealed the fraud from his former law partners.

Both sides in the case agreed that restitution should be $889,398.

The agreement also requires Hoesch to pay restitution of $835,000 to Grand River Bank. He had provided false and misleading information that resulted in the bank issuing two loans to him, documents showed.

Those loans were secured by real estate.

The government also said Hoesch took $700,000 from a client from 1997 to 2002, which is outside of the statute of limitations.

Both that case and the alleged bank fraud will be used in calculating losses for federal advisory sentencing guidelines.

He is scheduled to plead on Wednesday in U.S. District Court in Grand Rapids.

Attribution:

Former Zeeland attorney to plead in $900,000 scheme targeting clients? funds
John Agar
September 21, 2012
MLive.com
http://www.mlive.com/news/grand-rapids/index.ssf/2012/09/former_zeeland_attorney_to_ple.html

Source: http://www.estateofdenial.com/2012/09/29/former-zeeland-attorney-to-plead-in-900000-scheme-targeting-clients-funds-mi/

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