Mark D. Silverman, an attorney from New York, has been suspended from practicing law for three years due to serious violations involving his law firm's escrow account. The suspension, effective July 3, 2026, comes after the Appellate Division of the Supreme Court of the State of New York found that Silverman misappropriated client funds and failed to maintain proper records. This ruling affects Silverman’s ability to practice law and serves as a warning to other attorneys regarding the importance of ethical financial practices.
The case, officially titled Matter of Silverman, was filed under docket number 2024-05756 and decided on June 3, 2026. The Grievance Committee for the Tenth Judicial District initiated the disciplinary proceedings against Silverman due to multiple allegations of misconduct related to his escrow account. The court's decision highlights the importance of maintaining the integrity of client funds, which is a fundamental responsibility of attorneys.
Background
Mark D. Silverman is a partner in the law firm Silverman and Taylor, PLLC, which he co-founded in 1999. The firm offers a range of legal services, including personal injury, criminal law, and real estate matters. The disciplinary proceedings began when the Grievance Committee for the Tenth Judicial District filed a notice of petition and a verified petition against Silverman on July 8, 2024. This was part of a broader investigation that also involved his law partner, Daivery Gerard Taylor.
The allegations against Silverman included misappropriation of funds from his escrow account, which is supposed to securely hold client funds. Between January 2017 and April 2019, Silverman made disbursements totaling $25,777.35 from the escrow account without having sufficient funds to cover these transactions. Furthermore, by April 30, 2021, the account was short by $21,182.30, and by December 10, 2021, the shortfall increased to $30,366.41. These financial discrepancies raised serious concerns about Silverman's management of client funds and adherence to professional conduct rules.
The Ruling
The Appellate Division, led by Presiding Justice Hector D. Lasalle, ruled to confirm the findings of the Special Referee, who had sustained all four charges against Silverman. The court noted, "The respondent failed to abide by the rules governing the maintenance of an attorney escrow account for several years, during which time he misappropriated funds entrusted to him as a fiduciary." The ruling emphasized the need for attorneys to maintain strict compliance with financial regulations to protect client interests.
In response to the allegations, Silverman admitted to the factual claims made against him and expressed remorse. He requested leniency, asking for a sanction no greater than a public censure. However, the court took into account his previous disciplinary history, which included prior admonitions and cautions, ultimately deciding that a three-year suspension was warranted due to the severity of the misconduct.
Impact
This ruling sends a clear message to the legal community about the importance of ethical financial practices. Attorneys are expected to manage client funds with the utmost care, and failure to do so can result in severe disciplinary actions, including suspension or disbarment. Silverman's case serves as a cautionary tale for other legal professionals regarding the consequences of mishandling client funds.
The suspension will affect not only Silverman's practice but also his clients, who will need to seek new legal representation during his absence. The court's decision reinforces the principle that attorneys must uphold their fiduciary duties and maintain accurate financial records to safeguard client interests.
What's Next
Silverman has the option to appeal the court's decision; however, he will need to demonstrate compliance with the court's order and provide evidence of rehabilitation before he can apply for reinstatement. He may apply for reinstatement no earlier than January 3, 2029, provided he meets all the necessary conditions during his suspension.