2011 Annual Report Clients' Security Fund of Ohio - Supreme Court ...

CHAIRMAN’S COMMENTS
In fiscal year 2011, the Board of Commissioners of the Clients’ Security Fund
reviewed 197 claims and determined 136 to be eligible for reimbursement. Total
reimbursement for eligible claims for fiscal year 2011 was $1,259,463. This
represents a 27 percent increase over fiscal year 2010.
The fiscal year 2011 increase in the total reimbursements was due in large part
to the board’s decision to increase the number of claims reviewed at each board
meeting. This decision was made to reduce the amount of time between when a
claim is filed and a final determination is made.
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Unearned fee claims accounted for 100 of the 136 eligible claims and 23.5 percent of the total
amount reimbursed by the fund. By contrast, there were 23 claims resulting from thefts by
fiduciaries, accounting for 50.7 percent of the total dollars reimbursed by the fund. Five claims
involved theft of settlement proceeds, representing 14.9 percent of the total reimbursed in fiscal
year 2011. The eight remaining eligible claims involved estate thefts and theft by deception, and
accounted for 3.4 percent and 7.3 percent, respectively, of the total amount reimbursed.
The maximum amount that may be reimbursed is $75,000 per claim. During fiscal year 2011,
five claimants received maximum awards.
The awards made in fiscal year 2011 resulted from the dishonest conduct of 71 Ohio attorneys.
While it is unfortunate when even a single Ohio attorney engages in dishonest conduct, it is
important to note that this number represents less than one-half of 1 percent of the 43,459 Ohio
attorneys engaged in the active practice of law. Likewise, it is notable that reimbursement
provided by the Clients’ Security Fund is made possible by attorney registration fees paid by all
active Ohio attorneys.
I would like to express my appreciation to the commissioners with whom I serve for their hard
work and dedication to the accomplishment of the fund’s mission. These individuals volunteer
their time and expertise to help improve the image of the legal profession by helping those
harmed by the dishonest acts of a few.
I would also like to thank Administrator Janet Green Marbley and the Clients’ Security Fund
staff for their assistance to both the board and to the individuals seeking reimbursement from
the fund. Their hard work and dedication are greatly appreciated.
Finally, I would like to thank the Supreme Court of Ohio for its continued support of the fund’s
mission and goals, and for the confidence placed in me by allowing me to chair this board.
Jerome Phillips, Chair
Clients’ Security Fund Board of Commissioners
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