Westchester County District Attorney Susan Cacace announced that a former Westchester-based real estate attorney was taken into custody and charged with one count of Grand Larceny in the Second Degree in connection with an alleged theft of client funds.
DA Cacace said: “Members of the bar are entrusted with a great deal of responsibility on behalf of the people they represent. Brian Schmidt is accused of abusing that trust to enrich himself at the expense of his client. My office stands ready to assist the victim in this case and will work toward obtaining restitution for her and anyone else harmed by his conduct.”
As alleged in the felony complaint, Brian Schmidt, 49, of Warwick, N.Y., represented a home seller at a real estate closing between August and November of 2022 and unlawfully retained over $50,000 of the proceeds from the sale.
He surrendered to law enforcement and was arraigned Tuesday night before Judge Gary Raniolo of the Yorktown Justice Court. Schmidt pleaded not guilty and was released on his own recognizance pending further proceedings. The maximum potential penalty for Grand Larceny in the Second Degree, a class C felony, is 5 to 15 years in state prison.
In June 2024, Schmidt was disbarred from the practice of law in connection with this incident and other alleged acts of misconduct. Attached is the decision from the Appellate Division, Second Department, ordering Schmidt’s disbarment.
The case was investigated by the Westchester DA’s Criminal Investigators Squad and the Economic Crimes and Public Integrity Bureaus.
The case is being prosecuted by Emily Rowe-Smith of the Economic Crimes Bureau.
