Stirling Mortimer property fund still has €6.3m black hole

The High Court in London ruled against ELS International Lawyers on 19 November 2010 and ordered it to repay the missing millions plus interest and costs within 30 days. But three months later, Stirling Mortimer has received just a third of the money, which leaves investors who bought into the No 4 Cape Verde cell via IFAs with a €6.3m hole in their investment. A former partner of ELS International Lawyers, Joe Ezaz, 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's Ti...