McCormick, 58, last was reported missing Tuesday. A vehicle registered to his family was found near Duke Forest and investigators are treating the case as a missing person, said Chapel Hill police spokeswoman Jane Cousins.
He was the attorney for the Chapel Hill-Carrboro School Board for more than 20 years.
The State Bar filed a motion in Wake County Superior Court to freeze accounts after McCormick failed to transfer $802,185.82 from real estate sales to the property's owner.
The Bar said about $1.3 million is missing from McCormick's trust accounts, too.
A Chapel Hill couple also contends in a lawsuit that McCormick borrowed $300,000 and hasn't repaid them.
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