Ex-Lindquist Partner Pleads Guilty to Embezzling $2M from Firm and Clients
A former partner at Lindquist & Vennum in Minneapolis admitted in federal court on Tuesday that he began stealing money from clients and his law firm as far back as 1994, taking some $2 million in all.
Michael Margulies, 56, was released after his guilty plea to wire fraud, according to the Minneapolis Star-Tribune and Pioneer Press. A sentencing date has not been set. He faces up to 20 years in prison.
The plea agreement says Margulies stole the money through fraudulent invoices and expense reports and forged checks. A lawsuit claims Margulies used $1.5 million stolen from one client, a real estate development company, to renovate his historic mansion.
Lindquist & Vennum fired Margulies this year when the law firm learned he had double-billed a client, did some investigation, and discovered he had submitted false expense reports.
