In the Matter of William J. Torre(075524)

This disciplinary matter involves an attorney who borrowed $89,250 from an elderly, unsophisticated client the attorney had known for many years. The loan amounted to about seventy percent of the client’s life savings. The debt was unsecured, and counsel repaid only a fraction of it during the client’s lifetime.

Counsel prepared a promissory note to record the loan’s sparse and unfair terms, but he did not advise his client in writing beforehand that it was desirable to seek independent legal advice about the transaction. Counsel admits that he violated the Rules of Professional Conduct, see…