Attorney Get 15 Years in Prison for Bilking Elderly Clients Out Of $13 Million (MORE, CLICK HERE)

Attorney Get 15 Years in Prison for Bilking Elderly Clients Out Of $13 Million
New York Lawyer
December 7, 2007
By John Pacenti - Daily Business Review

MIAMI -- Saying he would mete out a longer sentence if he could, U.S. District Court Judge Alan Gold handed down the strictest prison sentence possible under federal guidelines -- 15 years -- for one-time high-flying Miami attorney Louis S. Robles for bilking elderly clients out of more than $13 million.

Gold had previously rejected a plea deal worked out for Robles by the U.S. Attorney's office that would have resulted in 10 years behind bars for the 59-year-old lawyer, saying it was too lenient.

Besides serving 15 years in prison, Gold ordered Robles to pay $13.5 million in restitution and work 900 hours of community service in a nursing home. He must also relinquish his law license for good.

The attorney represented more than 7,000 asbestos clients from the late 1980s through February 2003. Federal prosecutors said he operated an elaborate Ponzi scheme. Clients -- many elderly and dying -- would not be paid until he misappropriated money from other clients. Nearly 4,400 clients were defrauded, the government said.

Robles pleaded guilty to three counts of mail fraud on Sept. 17 for misappropriating settlements in asbestos lawsuits, defrauding thousands of clients nationwide. He paid little or nothing to clients while living in the lap of luxury with two full-time servants, a private plane and a waterfront mansion on Key Biscayne.

The lawyer "abused the special trust that his clients placed in him," U.S. Attorney R. Alexander Acosta said in a statement late Tuesday. "Robles sought out clients who were dying and cheated them out of millions of dollars, so that he could finance his own extravagant lifestyle."