RICHMOND, Va. -- Federal authorities say a former Virginia lawyer has pleaded guilty in connection with allegations that he wrongfully obtained $4 million in funds primarily from the bankruptcy of the LandAmerica Financial Group.
The Richmond Times-Dispatch reports 64-year-old Bruce H. Matson faces up to five years in prison when he is sentenced on Nov. 22.
He entered his plea on Thursday.
Matson admitted that he improperly disbursed $2.8 million in LandAmerica liquidation trust funds to himself and another lawyer.
He was charged this month with corruptly obstructing and impeding the proper administration of the law in an official proceeding.