NOTICE OF SUSPENSION (By Consent)
Case No. 93-109-GA Michael D. Silber, P-n/a, Birmingham, Michigan, by Attorney Discipline Board Tri-County Hearing Panel #72.
1) Suspension - 180 days; 2) Effective January 7, 1994. The respondent and the Grievance Administrator filed a stipulation for consent order of discipline pursuant to MCR 9.115(F)(5), which was approved by the hearing panel and the Attorney Grievance Commission.
Respondent was entrusted with the life savings of his father- in-law under the terms of an agreement whereby respondent was to invest the money on his father-in-law's behalf and periodically disburse funds back to his father-in-law to meet his living expenses. Respondent, with his father-in-law's consent, borrowed $334,187.50 from the funds entrusted to him. In connection with the transaction, respondent provided his father-in-law with a promissory note in the same amount. Respondent's father-in-law thereafter served a notice of demand for payment of the note in the amount of $334,187.50 plus interest.
Respondent pled nolo contendere to the allegation that he failed to repay the $334,187.50 upon demand in violation of MCR 9.104(4); Michigan Rule of Professional Conduct 8.4(a); and Canon 1 of the then-applicable Code of Professional Responsibility, DR 1- 102(A)(1).
Costs were assessed in the amount of $62.58.