A Reading Solicitor has been struck off after an SRA panel found that he had caused clients to lose a whopping £50m after "improperly handling" mortgage funds.
This must be one of the worst dodgy lawyer efforts - in a roll call which includes attempting to sell the Ritz, nicking £1.7m for jewels and race-horses and pilfering thousands for glamorous Romanian holidays. Jonathan Gilbert's actions not only caused huge client losses but also led to the collapse of his firm, Willmett Solicitors, which had offices in Reading, Windsor, Maidenhead and Woodley.
Gilbert was rumbled when the Royal Bank of Scotland queried the whereabouts of £2.85m which a client had paid to him to acquire two properties. In the subsequent investigation it was discovered that Gilbert had been diverting bank loans lent to clients purchasing property to others who had not been approved by the bank.
Admitting five allegations of diverting funds, Gilbert denied any dishonesty and said that he had not personally benefitted from the transactions. But the SRA begged to differ, calling it "one of the worst cases that had come before the tribunal". In a damning ruling, it found that Gilbert's conduct had been "wholly unacceptable" and that "the public needed to be protected from him". He was struck off and ordered to pay £43,347 in costs. Although this is unlikely to be enforced as he is now bankrupt.
All of which will presumably be pretty cold comfort for the clients who've lost their money and to the 60 people who found themselves out of work after Gilbert's fellow partners were forced to close the firm.
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This must be one of the worst dodgy lawyer efforts - in a roll call which includes attempting to sell the Ritz, nicking £1.7m for jewels and race-horses and pilfering thousands for glamorous Romanian holidays. Jonathan Gilbert's actions not only caused huge client losses but also led to the collapse of his firm, Willmett Solicitors, which had offices in Reading, Windsor, Maidenhead and Woodley.
Gilbert was rumbled when the Royal Bank of Scotland queried the whereabouts of £2.85m which a client had paid to him to acquire two properties. In the subsequent investigation it was discovered that Gilbert had been diverting bank loans lent to clients purchasing property to others who had not been approved by the bank.
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A bent lawyer yesterday |
Admitting five allegations of diverting funds, Gilbert denied any dishonesty and said that he had not personally benefitted from the transactions. But the SRA begged to differ, calling it "one of the worst cases that had come before the tribunal". In a damning ruling, it found that Gilbert's conduct had been "wholly unacceptable" and that "the public needed to be protected from him". He was struck off and ordered to pay £43,347 in costs. Although this is unlikely to be enforced as he is now bankrupt.
All of which will presumably be pretty cold comfort for the clients who've lost their money and to the 60 people who found themselves out of work after Gilbert's fellow partners were forced to close the firm.