A senior partner at Kennedys has been dismissed and reported to police after being accused of pilfering from the firm's client account.
Peter Lloyd-Cooper, a corporate and property finance partner, was ushered out of the partnership in May 2010 after the alleged theft of £1 million of client money (which was rapidly repaid by the firm to the unnamed - and presumably former - client).
The Solicitors Regulation Authority immediately swung into action and in its usual brisk fashion compiled a report on the allegations. After a mere fourteen months, the white-hot SRA cleared the firm and found no fault with Kennedys' internal processes. But no such luck for Lloyd-Cooper, who will be swapping his air-conditioned office for a sweaty City of London police interview room.
A spokesman for the firm said "we cannot comment further about the nature of the losses because of client confidentiality". He did not comment on whether Lloyd-Cooper's efforts were the most criminal act at the firm since Sue Liversidge and the rest of the Sheffield office mimed their way through Don't Stop Me Now.
To be fair to the regulators it's been a rum old time in the City recently, what with Hogan Lovells' Christopher Grierson and Ince & Co's Andrew Iyer both facing investigation by the police.
Tip Off ROF
Peter Lloyd-Cooper, a corporate and property finance partner, was ushered out of the partnership in May 2010 after the alleged theft of £1 million of client money (which was rapidly repaid by the firm to the unnamed - and presumably former - client).
The Solicitors Regulation Authority immediately swung into action and in its usual brisk fashion compiled a report on the allegations. After a mere fourteen months, the white-hot SRA cleared the firm and found no fault with Kennedys' internal processes. But no such luck for Lloyd-Cooper, who will be swapping his air-conditioned office for a sweaty City of London police interview room.
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Action stations at the SRA (artist's impression) |
A spokesman for the firm said "we cannot comment further about the nature of the losses because of client confidentiality". He did not comment on whether Lloyd-Cooper's efforts were the most criminal act at the firm since Sue Liversidge and the rest of the Sheffield office mimed their way through Don't Stop Me Now.
To be fair to the regulators it's been a rum old time in the City recently, what with Hogan Lovells' Christopher Grierson and Ince & Co's Andrew Iyer both facing investigation by the police.