Timothy McCabe, the former Lake Worth attorney who disappeared in April, pleaded guilty to five counts of bank fraud today as clients and friends looked on.
McCabe, 55, is accused of swindling millions of dollars from clients through his title company and law firm.
The exact amount of the lost funds has yet to be determined, but federal prosecutors said today it is could be as high as $7 million.
Vickie Meyer, a 20-year friend who lost about $35,000 to McCabe, said she had mixed feelings seeing him today.
“I want him to rot in jail, but at the same time I felt really bad for him,” she said. “I wanted to shake him and say, ‘How did get from the Tim I know to this?’”
McCabe’s wife did not attend the hearing. A sentencing hearing is scheduled for Jan. 9.
McCabe’s attorney, Robert Gershman, said he couldn’t yet discuss where McCabe went when he fled for nearly three months.
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