Another company has sued San Antonio lawyer Edward Valdespino over money placed in his lawyer trust account, bringing to three the number of lawsuits filed this year alleging he failed to return money held in escrow.
R.E.H. & P.L. LLC, a Tucson, Ariz.-based private lending and project financing company, alleges in a seven-page complaint filed in federal court in San Antonio that two of its investors wired $1 million in loans directly to Valdespino’s lawyer trust account at PNC Bank on April 13 to be held in escrow pending what the suit describes as a structured transaction.
The proposed transaction didn’t happen within the agreed 30-business-day period, prompting R.E.H. to repeatedly instruct Valdespino to return the escrow funds. He has refused, the suit alleges…