Milford-based attorney Michael Hayes has been charged with two counts of first degree embezzlement Embezzlement and released on a $10,000 bond.
Attorney Hayes, age 53 of 119 Coram Lane in Orange, is accused of embezzling money from clients.
The Milford Police Department is currently investigating complaints on this matter.
Investigators met with the first victim in August 2012 who indicated that Attorney Hayes allegedly withheld funds in excess of $125,000 from a life insurance policy for her deceased spouse.
The victim met with attorney Hayes in June 2012 to discuss her finances. The victim was informed that there was no money and that Attorney Hayes had invested those funds into a property in Milford which he refused to identify where the property was.
During this investigation it was discovered that Attorney Hayes had registered a limited liability company titled “16 Corona Circle Associates” which led to a cash purchase of a residential property at that location in June 2012.
Attorney Hayes allegedly used funds from another client’s account during this transaction and replenished a portion of those funds withheld from the initial victim. This residential property was renovated and placed back on the housing market for resale.
In September 2012, Investigators executed a search warrant at the Law Offices of Meuser, Eckenrode and Hayes located at 86 Cherry Street in Milford which led to the discovery of additional evidence and information pertaining to this complaint and other alleged criminal activity involving Attorney Hayes.
Investigators met with a second victim regarding the above activities which led to the discovery of $50,326 that Attorney Hayes allegedly embezzled from this victim in October 2012.
Investigation revealed that Attorney Hayes indicated to the second victim that they had bought a house together and to keep it “hush-hush”, relaying to her that she would get an interest check in November 2012 or he would sell the property.
During both investigations, it was determined that Attorney Hayes did not complete any legal documents or agreements with the two victims regarding the borrowing of funds from them to purchase any real estate.
On November 15, 2012 at 09:00 a.m., Attorney Michael Hayes surrendered himself to police regarding two arrest warrants for the previously mentioned investigations.
Attorney Hayes is scheduled to appear at Milford Superior Court on November 27, 2012 for the above charges.
Police are encouraging anyone with concerns regarding activities involving Attorney Hayes to contact Detective Nash at (203) 783-4730 or email firstname.lastname@example.org