A former Great Neck attorney currently living in Florida pleaded guilty to stealing $30,000 from his client’s escrow account for personal and business expenses.
Marco Materassi was hired to represent the seller in a real estate transaction for property in Lake Grove. On January 26, 2024, Materassi received the $30,000 down payment to hold in his escrow account, which was to be dispersed on the property’s closing date. The real estate transaction was ultimately canceled.
It was thereafter agreed that the $30,000 down payment would be returned to the buyer. However, instead of refunding the money as agreed, Materassi avoided all calls from the buyer’s attorney, the buyer, and the seller. It was later revealed that, within four days of his receipt of the buyer’s down payment, Materassi had spent all of the money on unauthorized business and personal expenses.
On June 15, 2026, Materassi, 59, pleaded guilty to Grand Larceny in the Third Degree, a Class D felony, before Supreme Court Justice John B. Collins. As part of his plea, Materassi must pay $30,000 in restitution; if he fails to do so, he faces up to one to three years in prison.
“An attorney who steals from his clients violates the public trust and his own fiduciary duty to his client,” said Suffolk County District Attorney Ray Tierney. “Today’s guilty plea represents our commitment to holding attorneys accountable for serious violations of professional duty.”
Additionally, Materassi has been disbarred by the State of New York and can no longer practice law.