FOR IMMEDIATE RELEASE: April 17, 2013
Contact: Rick DeBruhl, Chief Communications Officer
Phone: 602.340.7335, Mobile: 602.513.6385
Attorney Yuri B. Nielsen of Phoenix Placed on Interim Suspension for Mismanaging Client Funds
PHOENIX – April 17, 2013 – After a one-day hearing, the Presiding Disciplinary Judge of the Arizona Supreme court issued an order placing Yuri B. Nielsen on interim suspension for mismanaging client funds.
During the disciplinary hearing, the State Bar of Arizona alleged that Yuri B. Nielsen mismanaged client funds in multiple cases. Nielsen testified that he is presently unable to account for $428,867.20 in client funds that were withdrawn by him from his firm's Interest on Lawyers Trust Accounts (IOLTA).
In an effort to prevent future immediate and substantial harm to his clients and the public, Nielsen was placed on an interim suspension while the Bar continues formal disciplinary proceedings.
Yuri B. Nielsen was also ordered to notify current clients of his interim suspension. In addition, he is barred from accepting any new cases and prohibited from distributing or transferring funds from any trust account without prior written consent from the State Bar of Arizona or by order of the Presiding Disciplinary Judge.
Nielsen's interim suspension was effective April 12, 2013.
About the State Bar
The State Bar of Arizona is a non-profit organization that operates under the supervision of the Arizona Supreme Court. The Bar includes approximately 17,000 active attorneys and provides education and development programs for the legal profession and the public. Since 1933 the Bar and its members have been committed to serving the public by making sure the voices of all people in Arizona are heard in our justice system.
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