MONTGOMERY, Ala. (AP) - A former attorney from Auburn has pleaded guilty to taking more than $2 million from loan closing and refinancing deals that his firm handled from 2005 until late last year.
Disbarred lawyer James Boyd Douglas Jr. apologized for his actions during a hearing in federal court in Montgomery on Thursday.
The Opelika-Auburn News reports that the 42-year-old Douglas accepted full responsibility for what he did.
Douglas pleaded guilty as part of a deal with prosecutors for a reduced sentence, but a judge has yet to schedule a sentencing date.
Douglas admitted taking more than $2 million in proceeds from residential mortgage loan closings and refinances overseen by his law firm. Clients and lenders were told wrongly that loans had been repaid.
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