Merrimac Woman Found Guilty For $1 Million Larceny And Embezzlement Scheme
WOBURN– A Merrimac woman was found guilty on charges of larceny and embezzlement for stealing from clients through her law firm she operated with her husband, Middlesex District Attorney Marian Ryan informed the public today.
Lee Peck Eu Unitt, 48, of Merrimac, was found guilty April 29 following a 10 day jury trial in Middlesex Superior Court on charges of felony larceny (four counts), fiduciary embezzlement, and being a common and notorious thief.
A sentencing hearing has been scheduled for May 6 at 2 p.m.
The defendant’s husband has also been charged in his case. Peter Unitt, III, has been charged with larceny over $250 (2 counts), conspiracy to larceny, and embezzlement. His trial in Middlesex Superior Court is scheduled for July 15.
“The defendant violated the trust of her clients by stealing their life savings and falsifying mortgage documents,” District Attorney Ryan said. “The defendant defrauded her clients, her supposed friends, and spent their money on her extravagant personal lifestyle.”
According to authorities, Peter Unitt practiced law at his law office in Woburn which was known as "The Crest Group, LLC." Lee Unitt worked at the firm as a secretary, business manager and paralegal.
In 2006, the first victim was referred to the Crest Group for legal representation following a car crash. There she met Lee Unitt, whom she was led to believe was an attorney with the firm. Unitt recommended that the victim refinance any property she owned so as to remove all equity from her holdings by taking out large property mortgages. Unittfurther suggested that the victim leave the mortgage proceeds in the client trust account of the Crest Group, so the plaintiff suing the victim would not be able to get at it. When the victim asked Lee Unitt to return the money, the victim was informed that the money was overseas and would take a significant amount of time to have it returned. The victim is still awaiting the return of $190,729.
Lee Unitt also embezzled investment money from a married couple whom she had befriended. The wife had been involved in an automobile accident and Unitt again recommended refinancing their home and investment properties, and to invest the new mortgage proceeds in an international real estate investment pool. Unitt promised a return of 11 percent or greater. The victims entrusted over $500,000 to Unitt from refinancing proceeds and from their savings for retirement. Neither of the victims ever received an accounting as to the status of their investments nor has any of their money been returned.
The defendant used clients’ money to support an extravagant lifestyle that included family vacations to Malaysia, Cancun and Aruba, expensive cars including Hummers, Cadillacs, and Land Rovers; and thousands of dollars in monthly personal expenses. Functionally, the defendant operated a Ponzi scheme by using money from clients’ investments to pay debts due to other clients.
Also in 2007, the defendant offered to help an unemployed friend get a fixed mortgage. Lee Peck Unitt asked the victim to sign a pile of documents, which included false and inflated statements concerning her income. Unbeknownst to the victim, Chase bank thereafter issued a new $218,000 mortgage which monies Lee Peck Unitt diverted and spent while the friend continued paying on her old mortgage.
Lee Peck Eu Unitt and her husband Peter Unitt were indicted by a Middlesex Grand Jury on September 23, 2010 and arraigned October 18, 2010 in Middlesex Superior Court where Judge Jane Haggerty held the defendants on $50,000 cash bail with the conditions that they be placed on home confinement with GPS monitoring bracelets, and turn in their passports.
The prosecutor assigned to this case is Assistant District Attorney Doug Cannon, a prosecutor with the office’s PACT unit.