A law firm which presided over the disappearance of €9.8m (£8.4m) from a global property fund sold through IFAs has been told it must pay back the missing money, a judge ruled today.
In a case bought by Guernsey-based Stirling Mortimer Global Property fund at the High Court in London, Judge Mrs Justice Gloster found against international law firm ELS and its former partner, Joe Ezaz. Ezaz, who was not present in court, is accused of "misappropriating" the money by moving it from the client account of the law firm and using it for purposes unrelated to the fund. Stirling Mortimer is locked in a different legal dispute with Ezaz for fraud, as well as with separate firm European Legal Solutions S.L. ELS was in charge of holding the €9.8m in an Escrow account. It w...
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