Suffolk Attorney Sentenced For Stealing $800K From Clients: DA

SUFFOLK COUNTY, NY — A former Stony Brook lawyer was sentenced to one and one-third to four years in prison on Thursday for stealing more than $800K from three former clients by taking their money from his escrow account, Suffolk County District Attorney Raymond Tierney announced.

Douglas Valente, 57, of Florida, was the former principal attorney at the Valente Law Group, Tierney said.

"An attorney's duty is to protect their clients' interests, not exploit them for personal gain," Tierney said. "We will not tolerate crime committed with a law degree any more than we would when committed by violence or deception. This office remains committed to vigorously prosecuting any individual who abuses their position of trust, regardless of their status or profession."

From April 14, 2020, to May 31, 2020, Valente stole proceeds from the sale of his elderly client's home in the amount of $181,201, according to court documents. The proceeds of the sale were put into Valente's escrow account, officials said. Valente was required to send half of the proceeds to his client, while the other half was to be sent to her matrimonial attorney to be held in escrow until her divorce was finalized, prosecutors said.

Valente sent half of the proceeds to his client, but he did not send the remaining half of the proceeds to her matrimonial attorney, investigators said. When his client’s divorce was finalized,
she was unable to obtain the remaining proceeds from the sale of her home, authorities said.

From Sept. 28, 2020, through Oct. 13, 2020, Valente stole $248,027 from Guaranteed Rate Inc., a mortgage lender, documents say. Valente represented the mortgage lender as their attorney
and settlement agent in a refinance transaction, officials said. Guaranteed Rate Inc. wired money to Valente’s escrow account to be dispersed in the transaction, prosecutors said. Valente did not send a portion of the money of the refinanced mortgage to the prior mortgage company, the DA said.

Lastly, between May 14, 2021, through Sept. 30, 2022, Valente stole nearly $400K from a client who sold a home during a pending divorce proceeding, authorities said. Valente was to hold the
proceeds of the sale in his escrow account to be dispersed when the divorce was finalized, the DA said. Valente instead used the funds for business and personal expenses, investigators said.

Valente was disbarred by the New York Grievance Committee for the Tenth Judicial District on May 18, 2022, making him ineligible to practice law in New York state.

On Dec. 6, Valente pleaded guilty to three counts of second-degree grand larceny.

The court justice signed Restitution Judgement Orders worth $826,525 on behalf of Guaranteed Rate Inc. and The Lawyers’ Fund for Client Protection, who reimbursed two of the victims, the DA said.

Valente was represented by William Keahon. Keahon did not immediately respond to Patch's request for comment.