FACT: This is a complaint for disbarment for alleged grave misconduct brought ag ainst Atty. Romulo L.

Ricafort for his failure to account for and to return the sums of money received from his clients for purposes of the civil action to reco ver their property from a foreclosing banking institution he was handling for th em. In 1992, the complainants engaged the services of herein respondent to recov er their property from being foreclosed by a bank. Having willingly accepted the engagement, the respondent required the complainant to pay P7,000.00 as filing fee which they gave to him. He also asked P65,000 from the complainant to be con signated in court to counter the P60,000 deposit made by the buyer Mr. Tee. Anot her P15,000 was also given to him in order for the filing of the memoranda. Howe ver, when the complainants made a follow-up regarding the consignation, the resp ondent herein said that he failed to deposit the money in court but had it depos ited in his account, and he promised to return the money with interest. He also failed to file a memoranda which the P15,000 was intended for. When