CLIENT LOAN

A solicitor who loaned a client £27,000 so she could pay her mortgage arrears, while he was also defending her in possession proceedings, has been fined £20,000. Richard Gregory Barca lent Mrs JWB the money at an annual interest rate of 60 percent, secured on her property, without insisting she took independent legal advice. Mrs JWB defaulted on the loan and Barca obtained possession of the property. The SDT said Barca 'could and should have known better that to offer a loan to her in such an emotionally heightened and charged environment' and had lacked integrity. 7 March 2019