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A North Babylon demolition company manager was sentenced for failing to pay $80K in prevailing wages to workers on public projects in Nassau County
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Adina Genn
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Tag: nassau county da
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Floral Park attorney sentenced for $1.7M escrow theft | Long Island Business News
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THE BLUEPRINT:
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Defendant stole over $1.7M from 32 clients’ escrow accounts, officials said.
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Spent stolen funds on nightclubs, adult entertainment and personal expenses.
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Sentenced to 3½ to 10½ years in prison and civil judgments of $1.79M.
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Mismanagement led to canceled real estate transactions and financial harm to clients.
A Floral Park-based real estate attorney was sentenced Wednesday for stealing more than $1.7 million from the escrow accounts of over 30 clients, officials said. He later spent the money on adult entertainment, nightclubs and other personal expenses as well as to fund his law practice, according to the Nassau County District Attorney’s office.
Terrance Dougherty of Oyster Bay had pleaded guilty in September to 13 counts of second-degree grand larceny and one count of first-degree scheme to defraud. On Wednesday, he was sentenced to 3-1/2 to 10-1/2 years in prison. The court also issued civil judgments totaling $1.79 million for 32 victims.
“Terrance Dougherty threw his life and career away for a good time on his clients’ dime,” Anne Donnelly, Nassau’s district attorney, said in a news release about the sentencing.
Donnelly described Dougherty as a “thief who blew through more than a million dollars, spending down the escrow funds in his business trust account until it was almost zeroed out.”
She said that in “just five days, this defendant unbelievably spent nearly $200,000 at gentleman’s clubs in New York City and on Long Island. He was living it up while his clients faced having nowhere to live …, [s]eeing their dreams of home ownership dashed, their financial stability jeopardized and their sense of security forever tainted. Terrance Dougherty is a disgrace to the legal profession, and he will find no luxury accommodations over the next decade in state prison.”
Officials said Dougherty maintained an attorney trust account holding client funds from real estate transactions, including down payments and sale proceeds. Between March 2021 and November 2024, he handled at least 32 clients’ transactions. Investigators found he withheld funds, causing many transactions to be canceled or closings to proceed without the necessary money, according to authorities.
A review of the defendant’s account showed that $1.79 million in client funds was deposited between March 2021 and November 2024, leaving a balance of $5.35 by Nov. 29, officials said. Records show he withdrew money through cash, transfers to another business account, and credit cards, using it between May and August 2024 for personal expenses, including visits to gentleman’s clubs, nightclubs, luxury hotels and restaurants.
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Adina Genn
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Floral Park attorney pleads guilty in $1.7M embezzlement scheme | Long Island Business News
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THE BLUEPRINT:
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Foral Park attorney pleaded guilty to stealing $1.7 million from escrow accounts
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Embezzlement involved funds from 30 real estate clients
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Stolen money spent on nightclubs, adult entertainment and personal expenses
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Next court date set for Nov. 6
A Floral Park real estate attorney pleaded guilty in connection to a $1.7 million embezzlement scheme involving the escrow accounts of 30 clients, officials said Monday. The defendant spent the money on adult entertainment, nightclubs, personal expenses and to fund his law practice, officials said.
Terrance Dougherty, of Oyster Bay, pleaded guilty before Judge Christopher Hoefenkrieg to 13 counts of second-degree grand larceny and one count of first-degree scheme to defraud, Nassau County District Attorney Anne Donnelly said.
“Without shame or remorse, Terrance Dougherty stole millions of dollars from his clients and blew it on gentleman’s clubs, luxury hotels and other extravagant purchases,” Donnelly said in a news release about the guilty plea.
“As he partied, dozens of his clients faced cancelled closings and the realization that they had been ripped off and their money was gone,” Donnelly said. “Real estate attorneys hold their clients’ hopes in their hands and are trusted with huge sums of money to make their dreams reality. Doughtery crushed those dreams for a good time and now, with today’s plea, the party is over.”
Officials said Dougherty maintained an attorney trust account to hold client funds from real estate transactions, including down payments and sale proceeds. Between March 2021 and November 2024, he represented at least 30 clients in real estate transactions, investigators said. He allegedly withheld sale proceeds or down payments, causing many deals to fall through or close without the required funds from him, according to officials.
Records show that between March 2021 and November 2024, more than $1.7 million in client funds was deposited into the account. By Nov. 29, the balance had dropped to just $5.35. Investigators say Dougherty withdrew funds from the attorney trust account through cash withdrawals, transfers to another business account he controlled and payments to various credit card accounts he had opened.
Dougherty was reported to the Grievance Committee for the 10th Judicial District in August of 2024. He ceased practicing from his Floral Park office that same month. He surrendered to Nassau County District Attorney detectives in April.
Dougherty is due back in court on Nov. 6, and could face between 3½ to 10½ years in prison.
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Adina Genn
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