The former principal attorney of a Great Neck law firm who now lives in Florida has been indicted for allegedly stealing $30,000 from a real estate escrow account over a five-day span.
According to the investigation, it is alleged that Marco Materassi, the former principal attorney at Materassi Legal, P.C., based in Great Neck, was hired in 2024 to represent the seller in a real estate transaction. On January 26, 2024, a contract was entered into for the sale of a home, in which the buyer was required to make a $30,000 down payment. Both parties agreed that the down payment would be kept in Materassi’s trust account until the closing date, at which time the down payment was to be received by the seller.
Prior to the closing, an issue arose, and the buyer and seller agreed to terminate the contract. The buyer was to receive his refunded down payment deposit of $30,000 from Materassi. When the parties to the real estate transaction attempted to obtain the money, they contacted Materassi.
Materassi allegedly did not respond to any of the parties and failed to return the funds. An analysis of Materassi’s bank account revealed that he allegedly spent the money on personal expenses and other expenses related to his firm and unrelated to the transaction.
On June 20, 2025, Materassi, 58, of Dania Beach, Fla., was arraigned on the indictment before Supreme Court Justice John B. Collins, for Grand Larceny in the Third Degree, a Class D felony. Collins ordered Matterassi released from jail without bail because his charge is considered non-bail eligible under current New York State law, meaning prosecutors cannot ask for, and judges cannot set bail.
Matterasi is due back in court on August 1, 2025, and faces 2 1/3 to 7 years in prison if convicted on the top count.
“Our legal system is premised on attorneys acting ethically and honestly in their work,” said Suffolk County District Attorney Ray Tierney. “My office will continue to investigate, prosecute, and hold accountable attorneys who violate their oath and act to unlawfully enrich themselves.”
Anyone who believes that they may have been victimized by Materassi are asked to call the Suffolk County District Attorney’s Office at (631) 853-4626.