Nowadays not even a lawyer’s salary, it seems, is enough to sustain some people’s lavish lifestyles.On Tuesday, Douglas Arntsen, a former attorney, pleaded guilty to embezzling more than $10 million from two corporate clients, which he then used to go to expensive restaurants, sporting events, and strip clubs, Manhattan District Attorney Cyrus Vance said Tuesday.
If that wasn’t enough, the 34-year-old disgraced lawyer used the money to purchase businesses for himself, family, and friends, Vance said.
Arntsen’s scheme began in 2009, during his time with the Crowell & Moring law firm, when he began illicitly transferring millions of dollar from Doina Capital’s escrow funds into his own accounts, prosecutors claimed.
In spring 2010, Arntsen took on another target, Regal Real Estate, from which he stole $7 million, according to Vance.
Arntsen is expected to be sentenced on Oct. 17, 2012.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.