On Monday, February 5, 2024, the Supreme Court of Illinois issued an order enforcing the suspension of attorney Giulio Palma.

The case is entitled “In the Matter of Giulio Palma,” with M.R. 032027.

According to documents filed with the court, Palma was found guilty of six counts of wire fraud in November 2023 for his role in deceiving investors. A federal grand jury indicted Palma in October 2020, alleging he misled investors about how their funds would be used and provided false information about real estate transactions in Italy between 2015 and 2019.

Prosecutors claimed Palma caused over $5 million in investments by falsely representing the intended use of funds and his level of compensation. He was also accused of spending investor money on personal expenses rather than real estate purchases in Italy as promised.

In response to the criminal conviction, the Administrator of the Attorney Registration and Disciplinary Commission filed a petition on December 20, 2023, seeking Palma’s interim suspension from practicing law under Illinois Supreme Court Rule 774.

The petition argued wire fraud involves “moral turpitude” and reflects negatively on an attorney’s fitness to practice. It noted the conviction was persuasive evidence to support the criminal charges.

In its February 5th order, the court enforced the rule to show cause, suspending Palma’s law license effective immediately pending further review.

The Disposition states:

“The rule to show cause that was issued to respondent Giulio Palma pursuant to Supreme Court Rule 774 on December 28, 2023, is enforced. Respondent is suspended from the practice of law effective immediately and until further order of the Court.”

According to lawyer.com, Mr. Palma acquired his law license in Illinois in 2014.

A copy of the original filing can be found here.