Ex-LeClairRyan GC Disbarred For Diverting $2.5M From Trust

Law360 (November 18, 2020, 2:19 PM EST) -- LeClairRyan's former general counsel has been disbarred amid allegations that he misappropriated $2.5 million from the trust of a bankrupt title insurer, the Virginia bar announced Tuesday.

As part of a consent deal with state disciplinary officials, Bruce H. Matson admitted to distributing $1 million to himself and an additional $1.5 million to another Richmond, Virginia, attorney in connection with the wind-down of LandAmerica Financial Group.

Matson, who had for years served as court-appointed trust fiduciary, had been prohibited from making any distributions to himself until the LFG wind-down was completed in 2021, according to the state bar. Nevertheless, Matson said...

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