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Noted lawyer gets time, fine for client fraud

Posted By Administration, Thursday, November 05, 2015

A Rancho Santa Fe lawyer who admitted forging personal injury clients’ signatures in a scheme to persuade investors to advance him millions of dollars was ordered Monday to spend five months in federal custody and pay a $100,000 fine.

A prosecutor argued at the sentencing hearing that Todd Macaluso, 53, should spend more time behind bars — at least 10 months — for defrauding his clients and investors.

But the judge said he believed imposing a large fine would be more of a deterrent in a case like this. In addition to the fine, the judge ordered Macaluso to pay $150,000 restitution to LGL Funding, an investors’ group.

“I think I’d rather hit Mr. Macaluso in the pocketbook,” said U.S. District Judge Roger Benitez.

Read the whole story at The San Diego Union Tribune

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