The adult children of a deceased attorney found liable for misappropriating client funds sued the federal government to recover $2.1 million from their father’s levied retirement account.
A Manhattan federal court sentenced Steven Cauley, formerly an attorney based in Little Rock, Ark., to 86 months in prison in 2009 after he pled guilty to stealing $9.3 million in client funds. According to the Justice Department, Cauley misappropriated money from an escrow account containing settlement proceeds to finance personal business interests in shale oil.
The US later demanded that Morgan Stanley, which held a Roth IRA opened by Cauley, transfer its ...
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