Crowell & Moring Sued Over $5.5M In Missing Escrow

Law360, New York (September 26, 2011, 10:04 PM EDT) -- Four real estate clients sued Crowell & Moring LLP on Friday for failing to return $5.5 million in escrow allegedly stolen by attorney Douglas Arntsen, who was arrested last week.

Regal Real Estate LLC, Church St. Retail Properties LLC, Eighth Avenue Associates and 9 East 16th Street LLC accuse the firm of professional negligence and of failing to maintain adequate checks and controls over its escrow accounts, according to the complaint filed in New York court.

"By virtue of defendant Crowell & Moring's breach of its...
To view the full article, register now.