Crowell Reimburses Regal For Missing $5.5M Escrow Funds

Law360, New York (December 9, 2011, 7:17 PM EST) -- Crowell & Moring LLP has resolved a dispute with New York real estate firm Regal Real Estate LLC over the alleged embezzlement of $5.5 million by a former Crowell attorney now awaiting extradition from Hong Kong to face criminal charges, a Crowell spokeswoman said Friday.

The spokeswoman said the firm has fully reimbursed Regal for the funds that vanished from an escrow account the firm maintained on behalf of Regal and several other New York real estate companies. Douglas Arnsten, who was of counsel in Crowell's...
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