Ex-Mishcon de Reya Partner Convicted in $28M Loan Scheme
Posted Dec 5, 2011 12:39 PM CDT
By Martha Neil
A former partner of a well-known British law firm was found guilty by a jury today in a $28 million loan scheme involving a former client.
His former Mishcon de Reya client, developer Michael Andrew Shephard, 50, and a 38-year-old employee of Shephard's pleaded guilty prior to trial.
The three worked together to falsely represent to a potential lender that Shephard could secure loans with money in a Guernsey bank account. The loans totalled 22 million euros, or roughly $28 million in U.S. dollars.
ABAJournal.com: "Ex-Mishcon Partner on Trial for His Alleged Role in Helping Perpetrate $28M Fraud on Swiss Bank"