Solicitors fined for using client money!

Two #solicitors, Martyn Green and Michael Ward of Burd Ward Solicitors Ltd., have been fined a total of ￡18,000 by the Solicitors Regulation Authority (SRA) after they were found to have allowed a client to use the firm's account as a banking facility for nearly two years.

The SRA investigation revealed that Green, who is both a manager and director of the firm located in Merseyside, North West #England, arranged for the client to use the account in February 2021 after the client's own account was frozen due to contested withdrawals. Despite the SRA's concerns raised months prior, Green permitted the arrangement to continue until January 2023.

Green's conduct was found to be "inherently objectionable" by the SRA, and a fine of ￡9,000 was levied, citing risks including the potential facilitation of #money laundering and the enabling of clients to hide assets or evade #insolvency obligations. Though Green was not seeking financial gain, the regulator stated that he demonstrated "a lack of insight into the potential consequences."

Ward, also a manager, director, and compliance officer for the firm, was fined the same amount, ￡9,000, as he was aware of and had approved the arrangement.

The SRA noted that mitigating factors in determining the fines included the individuals' clean regulatory records, cooperation with the investigation, apologies, and a lack of evidence of a pattern of such conduct.

What should someone do if they suspect their solicitor is using their money inappropriately?

If you suspect that your solicitor is using your money inappropriately, it's essential to take prompt and appropriate action. Here are the steps you should consider:

1. Gather Evidence: If possible, collect all relevant documents, correspondence, bank statements, and any other evidence that might support your suspicions.

2. Speak with the Solicitor: Before taking legal action, you may want to speak directly to the solicitor in question. They may be able to explain the situation or rectify any misunderstanding. If you are uncomfortable with this, or if their response does not satisfy you, proceed to the next steps.

3. Contact the Firm's Management: If the solicitor is part of a larger firm, contact the firm's management or compliance officer. They may take your concerns seriously and conduct an internal investigation.

4. Seek Legal Advice: Consult another solicitor or legal expert to understand your rights and the appropriate course of action. If your funds are at risk, they may be able to help you take immediate protective measures.

5. Report to Regulatory Authorities: In the UK, for instance, the Solicitors Regulation Authority (SRA) regulates solicitors and can investigate allegations of misconduct. Report your concerns to the appropriate regulatory body in your jurisdiction, providing them with all the evidence you have gathered.

6. Notify the Police: If you believe that a crime such as fraud or theft has been committed, you should also report the matter to the police.

7. Consider Alternative Dispute Resolution: Some jurisdictions have mechanisms for resolving disputes with legal professionals outside the court system, such as mediation or arbitration. These can sometimes provide a quicker and less costly resolution.

8. Monitor Your Accounts: Keep a close eye on your bank and other financial accounts for any unauthorized transactions, and alert your bank if you notice anything suspicious.

9. Protect Yourself Going Forward: Depending on the situation, you may want to terminate your relationship with the solicitor and hire a new one. Make sure to do thorough research and choose a reputable legal professional to assist you in the future.

10. Maintain Confidentiality: Avoid discussing the matter publicly or on social media, as this could potentially interfere with any investigation or legal proceedings.

Remember, every situation is unique, and the best course of action may vary depending on the specifics of your case. Consulting with Britton and Time Solicitors or with another legal professional or the relevant regulatory body can help guide you in the right direction.