Oakland, CA 94605
17 July 1998 | Disbarred (26 years, 9 months ago) Disbarment 96-O-00741 |
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29 November 1997 | Not eligible to practice law in CA (27 years, 5 months ago) Ordered inactive 96-O-00741 |
19 August 1997 | Disciplinary charges filed in State Bar Court 96-O-00741 (27 years, 8 months ago) |
12 August 1996 | Not eligible to practice law in CA (28 years, 8 months ago) Suspended, failed to pay fees |
12 August 1996 | Not eligible to practice law in CA (28 years, 8 months ago) Admin Inactive/MCLE noncompliance |
24 April 1990 | Admitted to the State Bar of California (35 years ago) |
July 17, 1998 MICHAEL L. OSTERBERG [#145993], 40, of Oakland was disbarred July 17, 1998, and ordered to comply with rule 955. Osterberg misappropriated more than $42,000 from a client, lied about it and tried to characterize the theft as a loan. The State Bar Court found that two of his actions constituted moral turpitude.Osterberg was hired to help a client in the collection and distribution of funds being held in escrow for him. After being paid $2,500 for his services, he deposited $130,000 in his client trust account, and at his client's instructions, distributed more than $87,000 to nine individuals.Over a five month period, Osterberg took the remaining money for himself or others, until the balance of the client trust account fell to $74.58.When the client asked that Osterberg either release the funds or provide an accounting, he told the client that the federal government had frozen the funds.After being unable to contact Osterberg, the client filed a complaint with the State Bar. Before giving the client $25,000, Osterberg asked the client to withdraw the complaint as a condition of repayment. He also gave the client a promissory note, backdated more than a year, purporting to document a $50,000 loan from the client to Osterberg. The note was meant to mislead the bar about Osterberg's actions. Osterberg still owed his client $17,600.He never responded to the bar's investigation.In recommending disbarment, bar court Judge Nancy Roberts Lonsdale wrote, "Conduct of this kind is reprehensible and seriously damaging to the reputation of the legal profession." |