A former Great Neck attorney has pleaded guilty to stealing $30,000 from a client escrow account connected to a Lake Grove real estate transaction, Suffolk County District Attorney Raymond Tierney said.
Marco Materassi, 59, formerly of Great Neck and currently living in Florida, pleaded guilty Monday, June 15, to Grand Larceny in the Third Degree, a Class D felony.
Prosecutors said Materassi was hired to represent the seller in a Lake Grove home sale. On Jan. 26, 2024, he received a $30,000 down payment that was supposed to be held in escrow until closing.
The transaction was later canceled, and the money was supposed to be returned to the buyer, prosecutors said. Instead, Materassi avoided calls from the buyer’s attorney, the buyer and the seller.
Authorities said Materassi spent the full $30,000 within four days on unauthorized business and personal expenses.
“An attorney who steals from his clients violates the public trust and his own fiduciary duty to his client,” Tierney said.
As part of the plea, Materassi must pay $30,000 in restitution or face up to 1 to 3 years in prison, prosecutors said.
Materassi has also been disbarred by the State of New York and can no longer practice law.
The case is being prosecuted by Assistant District Attorney Tara K. O’Donnell of the Public Corruption Bureau. The investigation was conducted by Detective Thomas Monaco of the Suffolk County Police Department’s Financial Crimes Unit.
Photo: SCDA
