TRENTON, NJ (CBS) – A Cherry Hill lawyer has been ordered to pay $1.2 million in restitution for misappropriating funds from clients and then laundering the money.
Michael W. Kwasnik, a 44-year-old from Philadelphia, misappropriated $1.1 million from a 96-year-old client, who has since died. Kwasnik also did the same to a couple who received a personal injury settlement in a case handled by his firm. The husband and wife were entitled to receive $324,000, but instead only recovered $212,000.
Kwasnik was also sentenced to five years probation and already served five months in jail for the crimes.