Locke Lord failed to prevent a London partner from using the firm’s client account to run a “dubious” £21 million ($27.5 million) investment scheme for two and a half years, despite inquiries from the FBI and the Metropolitan Police, a Solicitors Disciplinary Tribunal (SDT) judgment shows.
The judgment, published Nov. 10, contains full details of the background to the U.S. firm’s record £500,000 ($656,000) SDT fine, which it received last week after admitting a number of failings regarding its supervision of former banking and finance partner Jonathan Denton, who was arrested at Birmingham Airport in late 2015 after being fired from the firm that summer.
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