A former attorney from Moorestown charged with stealing money from an estate he was hired to manage was acquitted during a bench trial in Superior Court last week.
Judge Michael Haas found Louis A. Colaguori, 66, of Eaglebrook Drive, not guilty of the charges of theft by failure to make disposition of property received and misapplication of entrusted property. Haas presided over the three-day trial.
Authorities alleged that Colaguori stole about $220,000 from the trust of a multimillion-dollar estate that included income-producing properties in New York City.
The case, investigated by the Burlington County Prosecutor’s Office’s major crimes unit, began when the office was contacted by the New Jersey Office of Attorney Ethics. The state office determined that funds were mishandled after conducting a random audit of Colaguori’s files.
He was indicted in 2010.
Colaguori, who had a practice in Burlington City, consented to disbarment for his actions, but he fought the criminal charges.
His defense attorney, Michael Riley of Mount Holly, argued that this was a fee dispute, not a criminal theft. He said there was a lack of evidence of any criminal intent.
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Former Attoney Acquitted in Estate Theft Case