A solicitor has been fined for providing banking facilities to conveyancing clients, exposing his firm to money laundering risks
A solicitor has been hit with a £20,000 fine for providing banking facilities to conveyancing clients, exposing his firm to money laundering risks.
Sufe Miah, who was admitted to the roll in January 2009 and was sole director at Miah Partnership Ltd, used his firm’s client account as a banking facility for more than five months from November 2015.
For example, his firm received £536,682 into its client account from a company which was not and had never been a client.
The funds related to conveyancing transactions conducted on behalf of a number of special purchase vehicles (SPVs).
Around 63 conveyancing transactions were involved.
The Solicitors Disciplinary Tribunal (SDT) found he had brea...
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