Indicted estate planning lawyer to take plea; victims say she stole millions
There was a free lunch for many estate-planning clients of Wisconsin attorney Sarah Laux, who talked about trusts at seminars at which food was provided.
But she wound up owing $626,000 to eight of her clients, as she admitted in a petition seeking to give up her law license, the Milwaukee Journal Sentinel reports.
Now Laux is on the verge of accepting a plea deal, a filed court document shows, in a 33-count criminal case related to allegations by victims that she stole $3 million from two well-to-do families.
The deal, which calls for her to admit guilt to five counts—including fraud, money laundering and filing a false tax return—reduces the likely prison term she would get. In exchange, Laux is to cooperate in efforts to obtain as much restitution for clients as possible from her remaining assets, the newspaper explains.
Laux, now 36, earned her law degree from Marquette University in 2004 and worked for her father’s small law office until 2009.
It isn’t clear how she met the old-money Milwaukee client from whom she is accused of diverting about $1 million, an earlier Milwaukee Journal Sentinel article says.
However, the son of a couple who allegedly lost $2 million after Laux persuaded them to fund investments that weren’t made as promised says they attended one of her luncheon seminars, another Journal Sentinel article reports. Their claimed loss is detailed in federal court and state insurance commission records.
See also:
Milwaukee Journal Sentinel: “Lawsuit by ex-employee is latest trouble for Mequon attorney Sarah Laux”
