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Well-Known NJ Elder Lawyer Accused of Bilking $1.2 Million From Clients

A fairly well-known New Jersey elder lawyer, who hosted radio programs and seminars dispensing advice, is accused of stealing $1.2 million from his elderly clients.

Police are accusing Robert Novy of stealing $1.2 million from four clients between 2010 and 2015.

The specific allegations, listed by ConsumerAffairs:

$78,000 from an 88-year-old woman who suffered from dementia, billing the woman and her estate a total of $78,000 that was not supported by any invoice or records showing justification.

$176,000 from an 85-year-old woman who suffered from Alzheimer’s. Among other things, he allegedly withdrew funds directly from her personal account totaling nearly $60,000, converting them into cashier’s checks and depositing the checks directly into his personal account, prosecutors said.

$459,000 from an 87-year-old woman. Among other things, he deposited proceeds totaling roughly $387,000 from two annuities into his attorney trust account, and subsequently transferred those funds into his law firm’s business accounts, Porrino said.

$550,000 from another elderly woman. He allegedly transferred nearly $300,000 that he held for her in his attorney trust account into the firm’s business accounts without any invoices or evidence that legal services were provided.

More details from the Asbury Park Press:

Robert Novy, 65, whose office is in Manchester, was arrested on charges of first-degree money laundering, second-degree theft by unlawful taking, and second-degree misapplication of entrusted property, according to a statement from the Office of Attorney General Christopher Porrino. He was taken to Ocean County jail with bail set at $500,000.

“While Novy held himself out as a leading legal advocate for the elderly, we allege that he corruptly used his reputation and his law license to prey on vulnerable seniors, taking control of their finances and stealing more than $1 million from their life savings.” Porrino said in the statement. “In his greed, Novy not only betrayed his oath as a lawyer to uphold the law, he betrayed all standards of decency.”

Many of the victims were people without close relatives or were of diminished capacity, Porrino’s office said.

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