Lawyer charged with taking $750G that was meant for client's Southampton home purchase

The Suffolk County District Attorney’s Office charged Wading River lawyer Peter Giattino with grand larceny for allegedly stealing over $750,000 from a client, money that was intended for Giattino to purchase a home last year.

Between June and October, Giattino, 43, is alleged to have taken the $751,687 provided to him to purchase a Southampton home and instead spent some of it at local and out-of-state casinos.

Giattino was arraigned before Riverhead Town Justice Lori M. Hulse on Thursday. He was released under the supervision of probation, with alcohol and narcotics conditions and compliance updates to the court.

"The allegations against this defendant reflect a serious betrayal of the confidence the victim placed in this attorney in his role as both legal counsel and fiduciary," District Attorney Raymond A. Tierney said in a statement.

Tierney added that "this office will not allow licensed professionals to abuse their positions for personal gain."

Giattino was a prosecutor for about a decade in the district attorney’s office, his attorney, Bob Macedonio, said in an interview. Payroll records reflect he was in the DA’s office at least until 2022, which would have overlapped with when Tierney took office.

Giattino was admitted to practice law in New York in 2011 and he ran his own practice, PVG Legal Solutions. He attended Touro Law Center.

"Mr. Giattino is a well-respected attorney in Suffolk County," Macedonio said. "We believe once we’ve had the opportunity to review all documentation, and continuing our discussions with the DA’s office, we will resolve this case in Mr. Giattino’s favor."

The case represents the latest example of prosecutors alleging a Long Island attorney stole high-dollar real estate funds from a client — an issue that has lingered for over two decades and has escalated in recent years, with little to no action by state officials.

The problem has plagued a little-known quasi-state entity, the New York State Lawyers’ Fund for Client Protection, whose mission is to reimburse clients who had money stolen from them by dishonest lawyers.

A Newsday investigation last month found Long Island lawyers make up an overwhelming portion of those named in claims that received reimbursements. Over the last 40 years, Long Island lawyers account for over $70 million paid back to clients by the fund, across 2,500 claims — more than any other judicial district in the state.

Following Newsday’s investigation, Assemb. Charles Lavine (D-Glen Cove) said he would "try to fashion some new rules and regulations that are going to address that to make sure people are not taken advantage of by unethical conduct."

 Lavine, the chairman of the Assembly’s Judiciary Committee, promised a "fresh look at the entire system for compensating people who have been robbed by their attorneys."

CORRECTION: A prior version of this story incorrectly stated the release terms a judge set for the lawyer charged with grand larceny, due to incomplete information provided by the district attorney’s office. The defendant was released under the supervision of probation with alcohol and narcotics conditions and compliance updates to the court, according to the judge.