Hermosa Beach, CA 90254
25 March 2015 | Disbarred (10 years, 1 month ago) Disbarment 13-O-10909 |
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27 September 2014 | Not eligible to practice law in CA (10 years, 7 months ago) Ordered inactive 13-O-10909 |
18 March 2014 | Disciplinary charges filed in State Bar Court 13-O-14190 (11 years, 1 month ago) |
11 December 2013 | Disciplinary charges filed in State Bar Court 13-O-10909 (11 years, 4 months ago) |
9 January 1969 | Admitted to the State Bar of California (56 years, 4 months ago) |
March 26, 2015 DAVID HALL FREDRICKSON [#42810], 76, of Hermosa Beach, was disbarred March 26, 2015 and ordered to comply with rule 9.20 of the California Rules of Court and make restitution. The State Bar Court found Fredrickson culpable of misappropriation in two client matters. In one matter, Fredrickson disregarded his duties as an escrow agent by improperly dispersing funds he was supposed to be holding in his client trust account. Per an agreement Fredrickson entered into, he was required to keep $150,000 advanced to help an entertainment venture secure a standby letter of credit. Fredrickson was supposed to return the money, minus certain fees, if the standby letter of credit was not secured within seven days of the money being deposited. Instead, at the instruction of a client associated with one of the motion picture companies involved, he began disbursing the money. When efforts to get the standby letter of credit fell through, the escrow funds were gone. Fredrickson made payments to the investor after a civil action and a State Bar complaint were filed against him.In another matter, which also involved a standby letter of credit, Fredrickson failed to live up to his duties as an escrow agent by improperly dispersing $200,000 in funds that should have been held in his trust account. As in the other matter, the deal didn’t go through and the financial backer asked for his money back, only to learn it was gone.Frederickson was ordered to pay $198,000 in restitution.In mitigation, he had no prior record of discipline, cooperated with the State Bar and presented evidence of his good character. |