Surrey attorney Khushpal S. Taunk has been penalized with a $25,000 fine following a mutual agreement with the Law Society to address misconduct associated with trust accounting regulations.
Taunk confessed to neglecting the recording of several transactions and holding $327,185.90 in a pooled trust account from 2017 to 2020, exceeding the allowable limit of $300 for personal funds.
In deciding on the disciplinary measures, the Law Society took into account Taunk’s prior professional conduct, including a citation, a conduct review, two referrals to Practice Standards, and a one-month professional misconduct suspension. Throughout the resolution process of the consent agreement, Taunk was forthcoming, admitted his mistakes fully, and did not misuse any client trust funds or partake in dishonest actions.
Taunk has consented to the $25,000 fine and has updated his billing and accounting methods to ensure they align with the Law Society’s accounting standards.
A summary of the consent agreement can be found here.
