Dodgy Solicitor who gambled £1.2m client cash “pressed the sod it button”
10 March 2017
A solicitor has been struck off for taking over £1.2 million from his firm's client account to fund his online gambling addiction. He slips neatly into the deck of dodgy solicitor top trumps after admitting that he went "kamikaze
" and "pressed the sod-it button"
During a two month period in 2016 sole practitioner Richard Sedgley made 59 withdrawals, more than one a day, from his firm's four client accounts in amounts ranging in size from £1,000 to £90,000. In total Sedgley, 55, transferred a gobsmacking £1.24 million to his personal accounts which he then bet online. Sedgley eventually paid it all back, using his winnings as they came in to replace chunks of the missing cash. Sometimes there was even a surplus in client account. But on other days a bad stretch on the tables left shortfalls of up to £366,000, and eventually Sedgley had to use his own resources to repay the money.
Sedgley blamed his high-rolling episode on the deaths of a colleague and a friend, which he told the Solicitors Disciplinary Tribunal had left him in a “kamikaze state of mind
”. He said that grief and having to work "long hours, including at weekends" meant he "pushed the sod it button
". His wife told the tribunal that during the sod-it period he was "moody and very depressed
", but "sometimes could be 'high
'", presumably whenever he nipped into the study to drop £100k on a hand. She also said he wasn't going on enough walks and "was not getting much fresh air
Sedgley admitted that other solicitors would regard his conduct as "horrendous
", but said at the time he did not think he was being dishonest. The Tribunal decided instead that his actions were "deliberate, calculated and repeated
" and struck him off.
RollonFriday is offering odds of 12:1 he appeals, 50:1 he wins - only on ROFBET.
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