'Shark' lawyer stole £400k from will

A DISGRACED New Town lawyer who stole more than £400,000 from an elderly client's will boasted of being a "shark" who preyed on vulnerable victims.

Michael Karus faces the threat of jail after pleading guilty at Edinburgh Sheriff Court yesterday to embezzling the money from the estate of Edith Hampton.

The 48-year-old prided himself on his ruthless approach to business while amassing a multi-million pound property empire across the city, said former associates.

Karus even named two of his firms GWS (Great White Shark) and Mako – one of the deadliest types of shark – in celebration of his predatory style.

The Evening News understands that Karus is facing a further police investigation into his activities following his conviction.

He has already promised to repay the money he stole using a 500,000 lump sum that he previously lodged with a solicitor.

One close associate told the Evening News: "Karus fancies himself as shark and that's why he called the companies Mako and GWS. He's the predator and he goes out looking for 'pond life', as he calls his victims.

"He used to describe his way of doing business as 'shooting fish in a barrel'. He's an arrogant, stuck-up man who sees himself as better than the rest, but he's a thief and a compulsive liar. He'll bleed you dry."

Karus lives in Gloucester Place in the New Town with his wife Marta and teenage son. Friends say he prefers not to flaunt his wealth and shuns expensive cars and clothes in order to protect his fortune.

Another associate said: "He always pleads poverty because he doesn't want anyone to know what he has. He's afraid someone might take it away."

The lawyer – a former pupil of Merchiston Castle School – made his fortune dealing in property in the Capital over the last 20 years. He built up an extensive portfolio of properties, including homes, wine bars and shops, worth several million pounds.