Ex-law firm partner guilty of £19m loan scam
Share
A former partner at solicitors’ firm Mishcon de Reya has been convicted of forgery and fraud for his part in a £19m loan scam.
Kevin James Steele was convicted of forgery and two fraud offences at Southwark Crown Court today.
Two other defendants, Michael Andrew Shephard and Mark Terence Pattinson, pleaded guilty before trial.
In 2008 Shephard, Steele and Pattinson used false letters purporting to be from Julius Baer & Co in Guernsey to convince EFG Private Bank to offer Shephard a £19m loan.
The letters claimed that £76,422,124 was held in two accounts at Julius Baer & Co which was available to be used as security for the loan.
The Serious Fraud Office has been investigating the case since November 2008 with Warwickshire Constabulary.
All three will be sentenced on January 9.
SFO director Richard Alderman says: “I welcome today’s verdict. It is a victory for honesty and fair dealing in business.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
Readers' comments (2)
Exasperated Me | 6 Dec 2011 12:04 pm
Dear me, all the qualifications and professionalism in the world and what happens? The quantum increases.
Unsuitable or offensive? Report this comment
Peter Turner | 6 Dec 2011 12:16 pm
Good - what about some convictions for fraudulent ambulance chasers?
Unsuitable or offensive? Report this comment