07 December 2016
The Solicitors Regulation Authority (SRA) has warned of a growing number of investment scams using law firms as middlemen. Two solicitors have been prosecuted in the past fortnight, one of whom was struck off. The SRA has now published advice for the public on investing in schemes such as carbon credits trading, leases of hotel rooms, and diamond trading, where the public is told their money is covered by the law firm’s insurance. If the solicitor is helping a scam then the insurer may refuse to pay out.
