California Lawyer Sentenced to More Than Five Years for Siphoning Foreclosure Client IOLTA Funds
Irvine, Calif., lawyer Matthew C. Browndorf, 54, was sentenced in Maryland to more than five years for wire fraud and money laundering after a scheme that caused more than $2.4 million in losses to foreclosure clients.
By Scammers.com Staff · · 1 min read
Published Nov. 6, 2026. Case status is current as of that date.
Foreclosure counsel often hold surplus proceeds in an IOLTA for lenders and clients. On March 7, 2025, the U.S. Attorney's Office for the District of Maryland announced that Matthew C. Browndorf, 54, of Irvine, California, an attorney licensed in New York, Pennsylvania, and New Jersey, had been sentenced to more than five years in federal prison for money laundering and wire fraud [1].
Status: Browndorf pleaded guilty. U.S. District Judge Lydia K. Griggsby imposed the sentence. The scheme caused more than $2.4 million in losses to BP Fisher clients [1].
How the scheme worked, according to the plea
According to the guilty plea summary [1]:
- Browndorf's holding company Plutos Sama acquired the Fisher Law Group (renamed BP Fisher), which handled foreclosure work and maintained IOLTA and operating accounts he oversaw.
- While leading clients to believe they had immediate access to IOLTA funds, he directed employees to move clients' money into Plutos Sama and other accounts he controlled.
- Stolen funds paid personal expenses including an American Express bill, Ferrari/Maserati lease payments, and a mortgage.
The person sentenced
Matthew C. Browndorf, 54, Irvine, Calif. Attorney (N.Y./Pa./N.J.). Sentenced to more than five years for wire fraud and money laundering; >$2.4M client losses [1].
Case status (as of Nov. 6, 2026)
| Defendant | Court | Status | Source |
|---|---|---|---|
| Matthew C. Browndorf, 54, Irvine, Calif. | U.S. District Court, D. Md. (Judge Lydia K. Griggsby) | Pleaded guilty; sentenced March 7, 2025 to more than five years | [1] |
Statuses can change, including through appeal.
Sources
- U.S. Attorney's Office, District of Maryland, "California Lawyer Sentenced to More Than Five Years in Federal Prison for Wire Fraud and Money Laundering," March 7, 2025. https://www.justice.gov/usao-md/pr/california-lawyer-sentenced-more-five-years-federal-prison-wire-fraud-and-money
- #attorney fraud
- #IOLTA
- #foreclosure
- #wire fraud
- #money laundering
- #Matthew Browndorf