Mark O’Brien: Edgecliff lawyer stole $5m to buy Bondi home
He was regarded as a top legal mind with more than 30 years’ experience. But Mark O’Brien has come clean to stealing more than $5m from clients to buy a swanky Bondi home. His wife – who is yet to enter a plea – is alleged to have been in on his multimillion-dollar swindle.
Wentworth Courier
Don't miss out on the headlines from Wentworth Courier. Followed categories will be added to My News.
A Sydney lawyer who raised suspicions when he bought a multimillion-dollar home in Bondi Junction has pleaded guilty to defrauding clients by more than $5 million.
Suspended lawyer Mark Leo O’Brien, 63, and his wife Therese O’Brien, 62, both appeared in Downing Centre Local Court on Thursday facing serious fraud offences.
Mr O’Brien formerly worked at Edgecliff law firm Harrington Maguire and O’Brien.
That was until his business partner became suspicious of his ability to buy a $3.4 million home in 2018.
O’Brien and his wife have since been charged by police with a long list of fraud offences and the NSW Law Society has suspended the solicitor of more than 30 years.
The luxurious Bondi Junction home in question has since been sold.
On Thursday, Mr O’Brien pleaded guilty to 11 offences including dishonestly obtain financial advantage by deception and deal with proceeds of crime. Five further offences were withdrawn.
Court documents revealed the extent of his fraudulent activity which included taking $5.27 million out of his law firm’s client trust account, between 2015 and 2018, and depositing it into his own personal account.
He also defrauded a further $155,000 from a single client in 2017, court documents revealed.
Mr O’Brien will have his matter mentioned in the district court in July for a sentence date to be fixed.
Mrs O’Brien also appeared in person in court on Thursday with a separate lawyer representing her.
She has been charged with six offences including dishonestly obtain financial advantage by deception and conceal serious indictable offence of another person.
Police allege in court documents Mrs O’Brien set up a joint superannuation fund with her husband in 2015 and used the fund to invest $1 million of misappropriated trust money.
Police also allege in court documents that Mrs O’Brien used $3.6 million in “misappropriated trust money”, from a joint bank account shared with her husband, to purchase the home on Woodstock St in Bondi Junction in 2018.
Police alleged that Mrs O’Brien knew the money used to buy the home was proceeds of crime, and she failed to report information to police that a serious offence had been committed.
Mrs O’Brien, who has a profile on acting website StarNow, describes herself as a “actor, extra and model”.
She boasts having appeared on shows including Packed To The Rafters and in commercials for Westpac and a pharmaceutical company.
Police also allege she, in late 2018, renovated the Bondi Junction home with $53,000 which was the proceeds of crime. Mr O’Brien has pleaded guilty to a charge of knowingly deal with proceeds of crime in relation to the renovations.
Mrs O’Brien’s lawyer asked for her matter to be adjourned while some of the agreed facts were still being settled, but said she was planning on entering guilty pleas to at least some of the charges on the next occasion.
Her matter has been adjourned until July 9.
Mr O’Brien has pleaded guilty to seven counts of dishonestly obtain financial advantage or cause disadvantage by deception, and four counts of knowingly deal with proceeds of crime.
Mrs O’Brien has been charged with two counts of dishonestly obtain financial advantage or cause disadvantage by deception, two counts of knowingly deal with proceeds of crime, recklessly deal with proceeds of crime, and conceal serious indictable offence of another person.