A Vernon-based lawyer has agreed to a five-year ban from the bar for making “false or misleading” representations to a financial institution, acting in a conflict of interest and filing false information with respect to a client’s real estate transaction.
In a Feb. 5 undertaking recently posted by the Law Society of B.C., lawyer David Schaeffer admitted to numerous instances of professional misconduct and agreed to resign from the bar and not re-apply for at least five years.
The concerns stem from his dealings with a client with whom Schaeffer shared a personal connection, including a financial interest in a property.
Schaeffer represented this client but failed to ensure they had independent legal representation when Schaeffer registered a Canadian Western Trust Self-Directed RRSP Account against the property as a mortgage.
“On or about June 21, 2013, filed or caused to be filed a Form B with the Land Title Office that you knew or ought to have known contained false or misleading information,” the undertaking states.
Schaeffer had faced a citation on Nov.14, 2023 over these misconduct allegations.
This was not the first transgression with the society for Schaeffer.
In January 2024 a society hearing panel found Schaeffer erroneously withdrew nearly $9,000 in personal expenses from a very elderly couple’s bank account, while he was acting as their power of attorney.
Schaeffer, 66, was called and admitted as a member of the society in June 1985. After March 2020 Schaeffer practiced as a sole practitioner through David L. Schaefer Law Corporation in Vernon.
This article was updated Feb.27 to clarify Schaeffer has resigned and was not suspended for five years.
