Suffolk D.A.: Riverhead attorney arrested for stealing from parties in real estate transaction
Suffolk District Attorney Raymond A. Tierney today announced the arrest of Peter A. Saad, Jr., 46, of Calverton, who is charged with two counts of alleged Grand Larceny in the Third Degree for allegedly stealing $25,000 from two parties to a real estate transaction.
Saad, the principal attorney at the Law Offices of Peter A. Saad, Jr., P.C., based in Riverhead, is alleged to have stolen $25,000 from his attorney escrow account over a two-month period in 2020. According to the investigation, it is alleged that Saad was hired in 2020 to represent a client in the sale of his home.
All parties to the sale agreed to keep $25,000 in Saad’s escrow account until the outstanding permit issues were resolved, said District Attorney Tierney. However, Saad betrayed that trust by failing to return the escrow funds and instead using the money for his own personal expenses.
Saad’s actions came to light when it was determined that $5,000 was due to the purchasers of the home and the remaining $20,000 was due to the seller, who was Saad’s own client. Consequently, Saad has been suspended from the practice of law since June 3, 2022.
On December 13, 2023, Saad surrendered to the District Attorney’s office, where he was arraigned before First District Court Judge, the Honorable Rosann Orlando for two counts of Grand Larceny in the Third Degree, Class D felonies. Despite the severity of his crimes, Saad was released on his own recognizance, as his offenses are considered non-bail eligible under New York State law.
Assistant District Attorney Amanda Scheier of the Public Corruption Bureau is in charge of prosecuting the case. The allegations against this defendant represent a betrayal of trust and of the fiduciary duty he owed to his client, said District Attorney Tierney. My office remains committed to prosecuting all manner of thefts, including those committed by lawyers.
If anyone believes they have been victimized by Peter A. Saad, Jr., they are urged to contact the Suffolk County District Attorney’s Office at (631) 853-4626.
The next court date for Saad is set for January 2, 2024, where he will be represented by Gerard Donnelly, Esq.
Saad’s arrest serves as a reminder of the importance of maintaining trust and ethical standards in the legal profession. The District Attorney’s office is dedicated to ensuring that individuals who breach that trust are held accountable for their actions.
It is essential for the public to have faith in the legal system, and cases such as this only serve to undermine that trust. The Suffolk County District Attorney’s Office is committed to upholding justice and prosecuting those who commit theft, including attorneys who betray their clients.
As this case proceeds, it is crucial for anyone involved in real estate transactions to remain vigilant and cautious when selecting legal representation. Trust should be earned and never taken for granted, particularly in matters of such financial importance.
The Law Offices of Peter A. Saad, Jr., P.C. have not provided a statement regarding the arrest or the charges against Saad, and it is unclear how this case will impact the future of the firm.
The Suffolk County District Attorney’s Office will continue to investigate this matter thoroughly and ensure that justice is served. Individuals affected by Peter A. Saad, Jr.’s alleged crimes are encouraged to come forward and report any relevant information to aid in the ongoing investigation.
The District Attorney’s office is committed to protecting the rights and interests of the community and will work tirelessly to bring justice to those affected by these alleged acts of theft and betrayal.
