Stanley Walton, a longtime lawyer sentenced to federal prison in a mortgage fraud scheme, has been disbarred.
The Nevada Supreme Court in a three-page order Wednesday said taking away Walton’s license to practice law was appropriate “in light of the severe nature” of his misconduct.
A disciplinary panel of the State Bar of Nevada had recommended disbarring Walton, a member of the attorney organization since September 1992. Walton specialized in criminal and personal injury cases.
According to the Supreme Court order, Walton’s misconduct included “misappropriation of client funds, failure to adequately represent clients, fraud, deceit and illegal conduct.”
The State Bar filed five formal complaints against Walton alleging 35 violations of its code of professional conduct, according to the Supreme Court order. Walton didn’t answer the charges.
During its investigation, the State Bar found that Walton made false statements, submitted false evidence and tried to obstruct the disciplinary proceeding, the Supreme Court wrote.
Walton, 55, an Army veteran who moved to Las Vegas in 1989, is currently serving a 41-month sentence at the low-security federal prison in Lompoc, Calif. His release date is listed on the Federal Bureau of Prisons website as Jan.9, 2017.
Nevada U.S. Attorney Daniel Bogden has included Walton as one of nearly two dozen lawyers convicted in federal court at an “alarming” rate since 2008.
Walton pleaded guilty in May 2013 to one felony count of conspiracy to commit bank, mail and wire fraud.
According to his plea agreement, Walton and others conspired from September 2004 through July 2007 to fraudulently obtain mortgages to gain proceeds for their own use. The scheme involved the use of straw buyers.
At his sentencing in October, Walton was ordered to pay $3.1 million in restitution.
Contact Jeff German at email@example.com or 702-380-8135. Find him on Twitter: @JGermanRJ.