A prominent real estate lawyer who allegedly made off with millions in stolen client funds surrendered Friday to authorities and is slated to take a plea deal next week.
Mitchell “Mitch” Kossoff appeared in Manhattan Criminal Court on Friday on charges of grand larceny after he disappeared in April with roughly $14 million in client funds that were being held in his business’s escrow account, The Real Deal reported.
The 64-year-old attorney of firm Kossoff PLLC “stole in excess of $14 million from his attorney escrow accounts through a scheme that lasted more than four years,” Assistant District Attorney Ryan Gee told the judge.
Gee requested that Kossoff be put on supervised release, be forced to turn over his passport and be limited to traveling within New York.
The judge released Kossoff without bail and granted the travel restriction and passport requests.
The alleged wayward lawyer — who faced 8 1/3 to 25 years in prison if convicted at trial — reached a plea deal with the Manhattan District Attorney’s office and is expected to plead guilty at his next court date on Dec. 9, Gee said.
Kossoff’s law firm is in bankruptcy proceedings after his clients filed lawsuits against him over the alleged stolen money, Crain’s reported.
His criminal defense attorney did not immediately return a request for comment.