A law firm which presided over the disappearance of €9.8m (£8.4m) from a Global property fund sold through IFAs has been told it must pay back the missing money, a judge ruled today.
In a case bought by Guernsey-based Stirling Mortimer Global Property fund at the High Court in London, Judge Mrs Justice Gloster found against international law firm ELS and its former partner, Joe Ezaz. Ezaz, who was not present in court, is accused of "misappropriating" the money by moving it from the client account of the law firm and using it for purposes unrelated to the fund. Stirling Mortimer is locked in a different legal dispute with Ezaz for fraud, as well as with separate firm European Legal Solutions S.L. ELS was in charge of holding the €9.8m in an Escrow account. It w...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
