Malpractice Insurance Covers Client Trust Funds Lost in Scam --11th Circuit

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The 11th Circuit recently held that when a lawyer transfers any client's funds from his/her Trust Account, he/she has fiduciary duties to all of the clients whose funds are currently held in the account. As such, a law firm's malpractice insurer was required to make up a shortfall in the trust account that resulted from another client's check fraud scheme.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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