On Tuesday, September 23, 2025, the Disciplinary Review Board of the Supreme Court of New Jersey issued a letter of admonition to attorney David A. Faloni for violations of attorney ethics rules. The admonition follows a motion for discipline by consent filed by the Office of Attorney Ethics (OAE).
The case is entitled “In the Matter of David A. Faloni, Esq.,” with case no. DRB 25-185.
The Board found that Faloni violated RPC 1.15(a), regarding the commingling of funds; RPC 1.15(d), for failing to comply with record-keeping requirements; and RPC 8.1(b), for failing to cooperate fully with disciplinary authorities.
The case originated from an OAE investigation initiated on October 23, 2020, after the discovery of questionable transactions involving Faloni’s attorney trust account (ATA) at TD Bank and a check improperly payable to “cash” from his ATA at Valley National Bank.
The OAE’s investigation involved multiple requests for financial records from Faloni, including client ledgers, bank statements, cancelled checks, checkbook stubs, deposit slips, receipts, and disbursement journals for both his ATA and attorney business account (ABA), and monthly three-way ATA reconciliations, covering the period from March 1, 2013, to March 1, 2021. While Faloni provided some records, the OAE deemed the submission incomplete and identified numerous recordkeeping deficiencies.
Specifically, Faloni failed to maintain monthly three-way ATA reconciliations, a key requirement for attorney trust accounts. Further investigation revealed that Faloni had deposited non-client funds, such as proceeds from personal real estate transactions, refinancing proceeds, and a line of credit from a real estate venture, into his ATA. He also held more than the permissible $250 in personal funds within the ATA to cover bank fees and retained the $4,550 remainder of a client’s retainer fee in the same account.
Faloni stipulated to the violations, acknowledging he deposited funds unrelated to his legal practice into his ATA and exceeded the allowable amount of personal funds held in the account. He also admitted to multiple recordkeeping failures, including not maintaining fully descriptive client ledger cards and failing to maintain proper journals. Despite initially failing to provide all requested records, Faloni eventually complied with most requests, except for the monthly three-way ATA reconciliations.
The Board’s decision to issue an admonition considered Faloni’s lack of prior disciplinary history during his 56 years as a member of the bar. The Board also acknowledged Faloni’s stipulation to the misconduct and the fact that his actions did not negatively impact client funds. The cost of the disciplinary proceedings will be assessed against Faloni.
According to Martindale.com, Mr. Faloni attended Seton Hall University. He acquired his law license in New Jersey in 1969.
A copy of the original filing can be found here.
