Residential conveyancing news – Fraudsters to receive sentence
The pair, specialist residential conveyancing and property development solicitors, had their law firm closed down in 2009 after the Solicitors Regulation Authority announced that it was investigating “suspected financial irregularities”.
Northumbria police later charged them with fraud in relation to the theft of over £1 million of clients’ money.
Both the solicitors had their practising certificates suspended from the time of the investigation and have now faced further sanction, although it will not be until later this year that they will receive sentence.
The pair first started to siphon money from residential conveyancing transactions when they found their law firm unable to meet basic running costs.
Although none of the victims of the fraud have been repaid, they have been able to claim their money back from official compensation schemes.News