Tyler lawyer arrested on theft charges

TYLER – According to our news partner KETK, a Tyler lawyer was arrested on Friday and is accused of transferring more than $200,000 out of a trust account meant for his client. According to his arrest warrant, Bruce Bain, 56, was hired in September 2022 as a divorce attorney for a client and was paid a $5,000 retainer fee that same day. The client told police, according to the warrant, that $235,551.44 from the sale of her home was put into a trust account set up by Bain.

The warrant said that when Bain was contacted by police about the case, he told them he was unable to give her the money due to a hold on his account. According to the warrant, Bain allegedly told the officer we would call back at a later time when he had more information, but did not call back. Officials with Tyler PD received a grand jury subpoena return from the trust account, according to the warrant, and found that multiple transfers were made from the account to two others, which were shown to be a checking and savings accounts in the name of Law Offices of Bruce D. Bain.

The warrant said the trust account which started with a deposit of $235,551.44 had an ending balance of $46.38 in October 2023 after multiple transfers listed starting from February, the same month the initial deposit was made.

Bain was booked into the Smith County Jail on Friday for second-degree felony theft of property, and left the same day after posting a $500 cash bond.

“She advised that when the divorce was finalized the money was no longer in the trust account,” the warrant said. “[She] advised that she spoke with Bain about this, and he told her that he had spent the money.” “Bain advised that he believes that he knows why the hold is on the account but did not want to tell me at this time,” the warrant said.