Twin Cities attorney guilty of embezzling $2 million
A Twin Cities attorney charged with embezzling $2 million from his clients and law firm has pleaded guilty in federal court.
Michael Scott Margulies, 56, pleaded guilty Tuesday to one count of wire fraud, for embezzling the money through forged checks and false invoices and expense reports while working as a partner at the Lindquist & Vennum law firm.
The embezzlement took place between 1994 and 2010, according to federal prosecutors.
Margulies was fired after the law firm discovered the embezzlement earlier this year. The allegations were made public last month and Margulies was charged May 26.
The law firm has said the firm's own internal investigation revealed Margulies misappropriated funds "from a limited number of clients and from the firm."
Margulies faces up to 20 years in prison. A judge will sentence him at a later date.
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