Solicitor appears before the Solicitors Disciplinary Tribunal following a multi-million pound fraud in the City of London

3 Feb, 2016
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In a disciplinary hearing before the Solicitors Disciplinary Tribunal (SDT), Simon Butler represented Mr. I, a highly experienced international litigation partner.

The Solicitors Regulatory Authority (SRA) brought disciplinary proceedings against partners of a firm based in the City of London concerning a multi-million pound fraud.   One of the partner’s had fled the United Kingdom and Mr. I was alleged to have (a) failed to ensure compliance with the SAR 2011 in breach of Rule 6 SAR 2011 in that he failed to prevent the improper withdrawals from client accounts, (b) failed to adequately or at all to supervise staff employed by the firm, (c) and failed to have any understanding of or effective control over finances of the firm.

The SRA accepted that Mr. I did not participate in the fraud and that he did not have the requisite knowledge at the relevant time that his colleagues and other employees were part of a sophisticated fraud concerning property transactions.  However, the SDT did conclude that the allegations were very serious.

The seriousness of the allegations would normally lead to a solicitor being struck off the Roll of Solicitors or an indefinite suspension.  

Following extensive submissions to the SDT it was ordered that Mr. I would receive a reprimand and be subject to a condition that he may not practise as a sole practitioner or partner.

The professional disciplinary team in Chambers provides legal advice and assistance to a wide range of professionals.

Simon Butler was instructed by the client under the Direct Access Scheme.

 

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