Disgraced Wollongong lawyer and multi-million dollar fraudster Nigel Duncan has told a court he is a "shattered" man after admitting he thieved money from the estates of dead clients.
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The former Maguire and McInerney employee - and veteran of the legal industry - carried out a $2.1 million fraud scam over a six-year period from 2011, which saw him misappropriate almost $758,000 from deceased estates.
Some of the misappropriated money was used to pay his mortgage and to cover his late mother's expenses.
The remaining funds in the scam - some $1.39 million - were made up of fraudulent financial transactions Duncan made to cover his tracks.
The 65-year-old pleaded guilty to two counts of dishonestly obtaining a financial advantage by deception.
Facing a sentencing hearing in Wollongong District Court on Friday, Duncan revealed his crimes had had such an impact on him he'd tried to take his own life earlier this year by deliberately running his car off the road.
"I thought 'if I'm not around I'm not going to have to continue in that state I was'," he said.
"I just thought it would be easier for a lot of people.
"I left the road [but] ended up doing more damage to the car than I did to myself."
"Did you intended to damage yourself?" defence lawyer Sam Macedone asked Duncan.
"I think I did, yes," Duncan replied.
Duncan told the court he had lost his career, his job, his marriage and most of his friends in the fallout of his offending, resulting in him moving to Dubbo and working long hours as a truck driver.
"My life is nothing," he said.
"I just can't describe how low I feel.
"I have virtually got nothing. I'm just existing."
Agreed facts tendered to the court revealed an investigation was launched after Maguire and McInerney received a complaint from a client in 2017.
Duncan had paid $7262 from one deceased estate into another; a payment that should have come from the law firm's trust account.
"Paying it from the account of another deceased estate in this way is fraudulent and unethical," the facts said.
Maguire and McInerney reimbursed the money to the correct estate, required Duncan to pay back the same amount and brought in a team of forensic accountants, who revealed the extent of the theft.
Duncan was fired, the firm notified affected parties and took out a loan to repay them in full.
Duncan relinquished his certificate to practice law a few days later.
Police said Duncan misappropriated trust money totalling $2,148,437.13 - held by Maguire and McInerney for deceased estate matters - on more than 120 occasions.
The money was from the firm's trust account and two power money accounts Duncan operated as the sole executor of deceased estates.
He misappropriated $757,993.84 from 20 deceased estates for his own personal gain; using the cash to pay his mortgage, personal debts, debts of his late mother and to pay his sister.
Duncan was forced to sell his house in Balgownie after Maguire and McInerney launched Supreme Court action to recover the funds.
Duncan was arrested by Wollongong detectives at Dubbo police station on December 10.
In an interview, police said he couldn't explain why the offences occurred, that he was scattered at the time, and didn't have a plan but thought he would be able to somehow "balance everything out".
Duncan is expected to be sentenced on Friday afternoon.
If you need help, contact:
- Lifeline 13 11 14 or lifeline.org.au
- Beyond Blue 1300 224 636 or beyondblue.org.au
- Suicide Callback Service 1300 659 467
