A prominent and widely honored New Jersey elder law attorney has been indicted for stealing nearly $2 million from six elderly clients. Robert Novy, 66, is facing 10 charges, including two counts each of first-degree and second-degree money laundering.
Novy practiced elder law in the Jersey Shore area and for 20 years hosted a local radio show called "Inside the Law" on topics of interest to seniors. As ElderLawAnswers previously reported, Novy, who was arrested in October 2016, allegedly gained control of the clients’ assets through wills, powers of attorney and trust documents, transferring funds from their accounts to his own or his firm’s accounts, and then billing for services without supporting invoices. Novy's alleged victims were elderly or deceased clients who did not have a close relative to claim their estate.
"We allege that Novy systematically drained his clients’ assets, laundering funds through various bank accounts and charging unauthorized fees to enrich himself and his firm," said Director Elie Honig of the New Jersey Division of Criminal Justice. According to the New Jersey attorney general's office, the investigation is still ongoing and the office is looking into "numerous other suspicious financial transactions" involving funds of some of Novy's other clients.
“Bob Novy went the extra mile for all of his clients,” Novy’s lawyer, Gerald Krovatin, told the Asbury Park Press. “Anyone who knows him knows he would never steal from them or take advantage of them.” Krovatin noted that Novy has been practicing since 1976.
For our previous article on Novy's arrest, click here.
For the press release from the New Jersey attorney general's office, click here.
For an ABA Journal article that includes links to local news coverage, click here.
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