SUFFOLK COUNTY, NY – Suffolk District Attorney Raymond A. Tierney announced the arrest of Riverhead attorney Peter A. Saad, Jr., 46, on Wednesday. Saad faces charges of Grand Larceny in the Third Degree for allegedly embezzling $25,000 from a real estate transaction.
Saad, the principal attorney at the Law Offices of Peter A. Saad, Jr., P.C., is accused of misappropriating funds from an escrow account designated for a home sale in 2020.
The funds, totaling $25,000, were intended to address permit issues related to the property. However, Saad ceased communication with the involved parties and used the funds for personal expenses.
The District Attorney’s office emphasizes the breach of fiduciary duty and trust inherent in the allegations.
Saad, currently suspended from practicing law, was released on his own recognizance and is scheduled for a court appearance on January 2, 2024. He is represented by attorney Gerard Donnelly.