SFO charged five men, including two solicitors for improper use of over £60 million of client money 🚨
20/12/2024
Today the SFO charged five men, including two solicitors following the collapse of the law firm Axiom Ince and alleged improper use of over £60 million of client money
The firm’s CEO and director Pragnesh Modhwadia is charged alongside co-director Shyam Mistry and Chief Financial Officer Muhammad Ali with two counts of fraud by abuse of position.
They are alleged to have misused client funds and exposed thousands of the firm’s clients to losses.
Modhwadia and Mistry are also charged, alongside the firm’s Chief Technology Officer Rupesh Karawadra and Vice President of IT Jayesh Anjaria, with conspiring to conceal, destroy or dispose of documents relevant to a Solicitors Regulation Authority (SRA) investigation into the firm.
All five are also charged with conspiring to mislead the SRA using false documents.
The SFO’s investigation was opened 15 months ago and is one of its fastest to result in criminal charges.
SFOs Head of Fraud and Corruption Jason Williams talks about this important step in the case here https://www.linkedin.com/posts/uksfo_today-we-have-charged-five-men-including-activity-7275839184160886784-wkgc?utm_source=share&utm_medium=member_desktop
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.