LOS ANGELES — San Diego attorney David Q. Meyer has been disbarred from the practice of law by the State Bar Court of California.
Meyer was an escrow attorney who accepted funds on behalf of a company and was charged to maintain the funds in his client trust account, according to court records. Meyer allegedly failed to keep the trust at its designated balances and instead misappropriates the funds in five client matters.
In 2015, Meyer served as the escrow agent for the company Ford & Weinberg and was entrusted to hold relevant funds. Although Ford & Weinberg was not an official client, court documents state that Meyer had “fiduciary duties to each party under the escrow contract.”
The five charges stem from five instances with companies seeking a Standby Letter of Credit (SBLC) for $3 million. Ford & Weinberg, and in turn Meyer, were tasked with holding the fees promised in escrow before they were to be transferred to the necessary companies. Meyer allegedly failed to review the terms of the escrow agreement.
The first company, Perray & Wallen sought an SBLC from Cal & Schwartz, a company operating out of Bermuda. Meyer was supposed to hold onto the fees that would be paid out to Cal & Schwartz once an SBLC was granted. Meyer released the funds early in two separate transactions in August 2015. At the time of filing, Perray & Wallen had not received an SBLC nor a refund.
Four other companies, Hayside Consulting Limited, Amitkainth Limited, AMP and Avia Singapore Aircraft Parts, all sought $3 million SBLCs from Cal & Schwartz, and each one had funds transferred out of the client trust account before the terms of the agreement stated.
Due to the nature of the misconduct, an order of disbarment was submitted.
Meyer was admitted to the California State Bar in 2012 and is a graduate of the Thomas Jefferson School of Law in San Diego. He had no prior record of discipline.