Former RI attorney sentenced for fraud and tax evasion

PROVIDENCE, R.I. (WLNE) — A former Rhode Island personal injury attorney was sentenced to federal prison and ordered to pay restitution to clients he defrauded in a Ponzi scheme, as well as the IRS for unpaid taxes.

Peter P.D. Leach has been sentenced to three years in federal prison after pleading guilty to wire fraud and tax evasion charges.

Leach admitted to forging client signatures and depositing client settlement funds into his attorney IOLTA account.

He would then use the funds to pay personal expenses and repay other clients whose funds he had embezzled.

Leach also confessed that between 2014 and 2019, he concealed his actions from the IRS, making false statements to their officers about his ability to pay taxes.

He also lied to the IRS about his withdrawal of over $540,000 in cash from his IOLTA accounts for payment of personal expenses.

He also transferred money from his client account to the accounts of family members for this purpose.

Leach has been ordered to pay $299,774.41 to victims, and a further $320,622.76 to the IRS in unpaid taxes.