Larry Dahl, a former Phoenix attorney, was sentenced to 3.25 years in prison and 7 years supervised probation after defrauding his former clients of $2,940,439.
In addition to his prison sentence, the Honorable Jay Adleman ordered Dahl to pay $2,940,439 to the former clients he defrauded. In 2013, Dahl was indicted on 20 felony counts accused of embezzling money from client funds for nearly 5 years, from January 2001 to January 2005. Over that time period, Dahl gambled the $2,940,439 he had stolen at various casinos and lost the entire sum.
Dahl embezzled client funds directly from their interest-bearing money market accounts by writing checks payable to himself. To perpetuate this scheme, Dahl frequently transferred money between 46 client money market accounts to create the illusion of accurate individual account balances.
On June 25, 2015, Dahl pled guilty to three felony offenses: Fraudulent Schemes and Artifices, Money Laundering and Theft.
While the Bar rarely takes action against attorneys, and offers no assistance to those who have been victims of dishonest members, Dahl was disbarred in 2006.