Tags Posts tagged with "Douglas Valente"

Douglas Valente

Douglas Valente Pleaded Guilty to Three Counts of Grand Larceny in the Second Degree

Suffolk County District Attorney Raymond A. Tierney announced that Douglas Valente, 57, of Florida, the former principal attorney at the Valente Law Group based in Stony Brook, was sentenced Aug. 22 to one and one-third to four years in prison for stealing more than $800,000 from three former clients by taking their money from his escrow account.

“An attorney’s duty is to protect their clients’ interests, not exploit them for personal gain,” said District Attorney Tierney. “We will not tolerate crime committed with a law degree any more than we would when committed by violence or deception. This office remains committed to vigorously prosecuting any individual who abuses their position of trust, regardless of their status or profession.”

According to court documents and the defendant’s admissions during his guilty plea allocution, from April 14, 2020, to May 31, 2020, Valente stole proceeds from the sale of his elderly client’s home in the amount $181,201. The proceeds of the sale were put into Valente’s escrow account. Valente was required to send half of the proceeds to his client and the other half was to be sent to her matrimonial attorney to be held in escrow until her divorce was finalized.

Although Valente did send half of the proceeds to his client, he failed to send the remaining half of the proceeds to her matrimonial attorney. As a result, when his client’s divorce was finalized, she was unable to obtain the remaining proceeds from the sale of her home.

Additionally, from September 28, 2020, through October 13, 2020, Valente stole $248,027 from Guaranteed Rate Inc., a mortgage lender. Valente represented the mortgage lender as their attorney and settlement agent in a refinance transaction. Guaranteed Rate Inc. wired money to Valente’s escrow account to be dispersed in the transaction. Valente then failed to send a portion of the money of the refinanced mortgage to the prior mortgage company.

Lastly, between May 14, 2021, through September 30, 2022, Valente stole nearly $400,000 from a client who had sold a home during a pending divorce proceeding. Valente was to hold the proceeds of the sale in his escrow account to be dispersed when the divorce was finalized. Instead, Valente used the funds for business and personal expenses.

On May 18, 2022, the New York Grievance Committee for the Tenth Judicial District disbarred Valente, making him ineligible to practice law in New York State.

On December 6, 2023, Valente pleaded guilty to three counts of Grand Larceny in the Second Degree, Class C felonies, before Supreme Court Justice Richard Ambro.

On August 22, 2024, Justice Ambro sentenced Valente to one and one-third to four years in prison. Justice Ambro also signed Restitution Judgement Orders totaling $826,525 on behalf of Guaranteed Rate Inc. and The Lawyers’ Fund for Client Protection, who reimbursed two of the victims. Valente was represented by William Keahon, Esq.

This case was prosecuted by Assistant District Attorney Donna M. Planty of the Financial Crimes Bureau, and the investigation was conducted by Deputy Sheriff Investigator Yvonne Decaro, and Detective Investigator Vincent Neefus of the Suffolk County District Attorney’s Office.

by -
0 1141

Suffolk District Attorney Raymond A. Tierney announced on Dec. 6 that Douglas Valente, 57, of Florida, formerly the principal attorney at the Valente Law Group based in Stony Brook, pleaded guilty to three counts of Grand Larceny in the Second Degree, after stealing over $800,000 from three of his former clients by taking their money from his escrow account.

“Over more than two years, this defendant used his attorney escrow account as his own personal slush fund when he took money belonging to his clients and used it for personal and business expenses,” said District Attorney Tierney. “No one is above the law, and my office will continue to prosecute attorneys and other professionals who choose to steal from their clients.”

According to court documents and the defendant’s admissions during his guilty plea allocution, from April 14, 2020, to May 31, 2020, Valente stole proceeds from the sale of an elderly client’s home in the amount $181,201. Valente represented the elderly victim during the sale of her home and the proceeds of the sale were put into Valente’s escrow account. Valente was required to send half of the proceeds to his client and the other half was to be sent to her matrimonial attorney to be held in escrow until her divorce was finalized.

Although Valente did send half of the proceeds to his client, he failed to send the remaining half of the proceeds to the attorney representing her in the matrimonial proceedings. As a result, when his client’s divorce was finalized, she was unable to obtain the remaining proceeds from the sale of her home.

In addition, from September 28, 2020, through October 13, 2020, Valente stole $248,027 from Guaranteed Rate Inc., a mortgage lender. Valente was the attorney and settlement agent for Guaranteed Rate Inc. in a refinance transaction. Guaranteed Rate Inc. wired money to Valente’s escrow account to be dispersed in the transaction. The defendant was supposed to send a portion of the proceeds of the refinanced mortgage to the prior mortgage company to pay off the existing mortgage, but he did not. Because of this, Guaranteed Rate Inc. had to pay off the existing mortgage in the amount of $248,027.

Between May 14, 2021, through September 30, 2022, Valente stole almost $400,000 from a client who had sold a home due to a pending divorce proceeding. Valente represented the client in the sale of the home, and he was to hold the proceeds of the sale in his escrow account to be dispersed when the divorce was finalized. Instead, Valente used the funds for business and personal expenses.

On May 18, 2022, the New York Grievance Committee for the Tenth Judicial District disbarred Valente, making him ineligible to practice law in New York State.

On December 6, 2023, Valente pleaded guilty before Supreme Court Justice, the Honorable Richard Ambro, to three counts of Grand Larceny in the Second Degree, Class C felonies. Valente is due back in court on December 11, 2023, and he is being represented by William Keahon, Esq.

This case is being prosecuted by Assistant District Attorney Donna M. Planty of the Financial Crimes Bureau, with investigative assistance from Deputy Sheriff Investigator Yvonne Decaro, and Detective Investigator Vincent Neefus of the Suffolk County District Attorney’s Office.

by -
0 1076
Stock photo

Suffolk District Attorney Raymond A. Tierney announced a second indictment of Douglas Valente, 56, who is charged with one additional count of Grand Larceny for allegedly stealing nearly $400,000 from a third client. Valente was previously indicted in November 2022 with two counts of Grand Larceny for allegedly stealing more than $425,000 from two other clients.

“This defendant is now alleged to have stolen close to a million dollars from three of his clients over a two-and-a-half-year period,” said District Attorney Tierney. “Attorneys have a duty to act in the best interests of their clients. Not only did this defendant allegedly violate that duty, he also stole from them, and this will not be tolerated.”

According to the second indictment, between May 14, 2021 and September 30, 2022, Valente, the former principal attorney at the Valente Law Group based in Stony Brook, is alleged to have stolen almost $400,000 from a client who had sold a home due to a pending divorce proceeding. Valente represented the client in the sale of the home, and he was to hold the proceeds of the sale in his escrow account to be dispersed when the divorce was finalized. Instead, Valente allegedly used the funds for business and personal expenses.

In the first indictment, between April 14, 2020 and May 31, 2020, Valente is alleged to have stolen over $181,000 from a 78-year-old client. Valente represented the elderly woman in the sale of her home and the proceeds of the sale were put into Valente’s escrow account. Valente was required to send half of the proceeds to his client and the other half was to be sent to her matrimonial attorney to be held in escrow until her divorce was finalized. Although Valente did send half of the proceeds to his client, he allegedly failed to send the remaining half of the proceeds to her matrimonial attorney. As a result, when his client’s divorce was finalized, she was unable to obtain the remaining proceeds from the sale of her home.

During the time period of September 28, 2020 through October 13, 2020, Valente is alleged to have stolen $248,027.84 from Guaranteed Rate Inc., a mortgage lender. Valente was the attorney and settlement agent for Guaranteed Rate Inc. in a refinance transaction. Guaranteed Rate Inc. wired money to Valente’s escrow account to be dispersed in the transaction. Valente was supposed to send a portion of the proceeds of the refinanced mortgage to the prior mortgage company to pay off the existing mortgage, but he allegedly failed to do so. Because of this, Guaranteed Rate Inc. had to pay off the existing mortgage in the amount of $248,027.84. Valente allegedly used the funds belonging to both clients on his own personal and business expenses.

On May 18, 2022, the New York State Grievance Committee for the Tenth Judicial District disbarred Valente, making him ineligible to practice law in New York State. Valente is currently residing in Boca Raton, Florida. Valente surrendered to the District Attorney’s Office on Feb. 3. His new offense is considered non-bail eligible under New York State law, so he was released on his own recognizance. Valente had previously surrendered his passport at his arraignment on the first indictment.

If you believe you have been victimized by Douglas Valente, please call the Suffolk County District Attorney’s Office at (631) 853-5602.

Criminal complaints and indictments are merely accusatory instruments. Defendants are presumed innocent until proven guilty. No one is above the law.

by -
0 1526
Suffolk County District Attorney Ray Tierney. Photo from Tierney's office

On Nov. 14 Suffolk District Attorney Raymond A. Tierney  announced the indictment of Douglas Valente who is charged with two counts of Grand Larceny for allegedly stealing more than $425,000 from two of his clients.  

 “This defendant allegedly breached his fiduciary duty to his clients by stealing money that was supposed to be held in trust in his attorney escrow account,” said DA Tierney. “As a result of an extensive investigation done by my office, the defendant will be held accountable for these deceitful actions.”  

Valente, 56, the principal attorney at the Valente Law Group based in Stony Brook is alleged to have stolen more than $425,000 from his attorney escrow account over a 6-month period in 2020. He is charged with two counts of Grand Larceny in the Second Degree.  

According to the investigation, between April 14, 2020 through May 31, 2020, Valente is alleged to have stolen $181,201.67 from a 78-year-old client.  Valente represented the elderly woman in the sale of her home and the proceeds of the sale were put into Valente’s escrow account.

Valente was required to send half of the proceeds to his client and the other half was to be sent to her matrimonial attorney to be held in escrow until her divorce was finalized.  Although Valente did send half of the proceeds to his client, he allegedly failed to send the remaining half of the proceeds to her attorney in the matrimonial proceeding.   As a result, when his client’s divorce was finalized, she was unable to obtain the remaining proceeds from the sale of her house.  

During the time period of September 28, 2020 through October 13, 2020, Valente is alleged to have stolen $248,027.84 from Guaranteed Rate Inc., a mortgage lender.   Valente was the attorney and settlement agent for Guaranteed Rate Inc. in a refinance transaction. Guaranteed Rate Inc. wired money to Valente’s escrow account to be dispersed.   The defendant was supposed to send a portion of the proceeds of the refinanced mortgage to the prior mortgage company to pay off the existing mortgage and he allegedly failed to do so.   Because of this, Guaranteed Rate Inc. had to pay off the existing mortgage in the amount of $248,027.84.  Valente allegedly used the funds belonging to both clients on his own personal and business expenses. 

Valente surrendered to the District Attorney’s Office this morning and he was arraigned by the Honorable Richard Ambro in County Court in Riverhead.   His offenses are considered non-bail eligible under New York State law, so he was ordered to surrender his passport released on his own recognizance.   Valente is being represented by John Carman, Esq. Valente is due back in court on December 14.

If you believe you have been victimized by Douglas Valente, please call the Suffolk County District Attorney’s Office at (631) 853-5602.       

This case is being prosecuted by Assistant District Attorney Donna Planty of the Financial Crimes Bureau.