Matter of Iulo

This disciplinary proceeding results from an audit of the trust funds of respondent, Dennis J. lulo, by the Office of Attorney Ethics pursuant to Rule l:21-6(c). In 1981, an attorney involved in a real estate closing with the respondent was aggrieved by the failure of respondent to pay off an outstanding mortgage on the involved property. When questioned about the failure to pay off the mortgage, respondent said that it had been an inadvertence. He mailed a $9,000 check to the mortgagee bank on May 29, 1981, but the other attorney soon learned that the check had bounced.

The matter was brought…