West Auckland lawyer Edward Johnston has been struck off the register for misconduct, including using money from clients for his own personal benefit.
Mr Johnston has been removed from the roll of barristers and solicitors after admitting charges of misconduct and breaches of the regulations governing law practitioners.
The charges arose when Mr Johnston provided legal advice to a family trust.
The Law Society said he obtained two payments of $250,000 from his clients, claiming it was to buy shares in a company Mr Johnston owned, and for a loan to that company to allow the purchase of a property.
Mr Johnston never arranged for his clients to obtain independent legal advice and failed to properly document the transactions.
The Law Society said the lawyer never repaid the clients, and failed to honour a legal settlement.