TALLAHASSEE — Sarasota attorney Jordan Lloyd Wallach has been voluntarily disbarred following a Jan. 4 Florida Supreme Court order in light of allegations that he misappropriated more than $215,000 in client funds, according to a recent announcement by The Florida Bar.
The state Supreme Court issued its two-page order of disciplinary revocation, tantamount to disbarment, granted Wallach's uncontested petition, gave him no leave to seek readmission and ordered him to pay almost $2,398 in costs.
Wallach's disbarment was effective immediately, according to the high court's order.
The state bar announced the discipline and the Supreme Court's order on Jan. 29
In Florida, court orders are not final until after the deadline to file a rehearing motion expires.
Wallach, a Stetson University College of Law graduate whose law office is on Second Street in Sarasota, was admitted to the bar in Florida on Sept. 18, 1979, according to his profile at the state bar website.
Wallach was suspended in October following a state Supreme Court order over misappropriation allegations. In a previous discipline before the state bar, Wallach was reprimanded in March 1997, according to his petition for a disciplinary revocation.
Wallach was facing pending allegations that he misappropriated "at least" $215,353.39 of a client's funds, according to his petition. Wallach had been holding funds in trust for at least two separate clients, $451,302.73 for one client and $202,100.33 for the other, according to his petition.
Last October, Wallach issued a check for the larger amount he was holding but that same month the state bar received a bank notice that his trust account was short $13,253.06, according to his petition.
Wallach should have had at least $653,403.06 in his trust account at the time, according to his petition.
In his petition, Wallach agreed to reimburse the state bar's clients' security fund "for any and all payments imposed as a result of his defalcations," his petition said.