Lawyers in the dock

06/03/2008

The Solicitors Regulation Authority (SRA) is investigating up to 60 lawyers for fraudulent practice, Bloomberg has reported

The scale of the problem was confirmed by the Association of Chief Police Officers (Acpo) which has shared its findings with the financial industry.

Mike Bowron, lead on economic crime and commissioner of the city of London police, said: "Organised mortgage fraud can take many forms and while difficult to measure accurately, it remains a significant element of the UK's annual fraud losses."

The Acpo report has found that surveyors, mortgage brokers and solicitors were all involved in fraudulent behaviour.

The SRA said claims have risen from 85 in 2004, to 293 last year. "We are taking lawyers' involvement in mortgage fraud extremely serious," Geoff Negus, a spokesman for the SRA told Bloomberg.

"The Solicitors Regulation Authority is investigating 40 to 60 solicitors who may be involved in mortgage fraud," he went on.

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