Former Attorney Indicted for Embezzling Over $570,000 from Client’s Trust Account

Former Tacoma attorney Colby Parks indicted for embezzling over $570,000 from a vulnerable client’s trust account.Photo byGanapathy KumaronUnsplash

A former Tacoma attorney has been indicted on twelve counts of wire fraud for embezzling more than $570,000 from a vulnerable client’s trust account, the U.S. Attorney’s Office for the Western District of Washington announced today.

Colby Parks, 65, allegedly stole funds from a $1.66 million trust established to pay expenses for a client who suffered permanent injuries in a motorcycle accident.

According to the indictment, Parks became the trustee of the victim's trust in 2010. Over the next seven years, he siphoned funds from the account in large sums, leaving only $20,000.

In 2018, Parks allegedly convinced the victim to take out a reverse mortgage on her home to replenish the trust.

However, he continued to divert the funds for personal use, transferring money from the trust to his personal accounts and making payments on his credit cards, the department says.

By the end of 2019, the victim’s account balance had dwindled to just $15, forcing her to sell her home. Parks allegedly diverted proceeds from the sale, claiming the victim owed him money.

The indictment further states that Parks falsely accused the victim of overspending, despite providing her with only a small portion of the funds.

ccording to the department, Parks resigned his law license in lieu of facing disbarment, following investigations by the Washington State Bar and Adult Protective Services.

Wire fraud is punishable by up to 20 years in prison, with sentencing to follow a guilty verdict or plea, the department stated.

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