Client money is missing, Lawrence Graham confirms
Unauthorised payments were taken from the client accounts of Michael Fielding, City law firm Lawrence Graham confirmed this week for the first time.Mr Fielding, a former partner, went to Florida in June last year, leaving behind allegations that he had stolen client money (see [2001] Gazette, 21 June, 5).Lawrence Graham managing partner Bill Richards told the Gazette: 'We have unearthed a series of unauthorised payments for a very small amount from a number of Mr Fielding's personal clients.'The finding comes as an internal investigation - carried out by Deloitte & Touche at LawrenceGraham's request - is now drawing to a close.Mr Richards said it would be inappropriate to discuss the exact sums of money involved, and refused to comment on whether they were less than those already mooted in the press - 2 million.Mr Fielding is still believed to be in the US.
He has been declared bankrupt in the UK.
Mr Richards said his firm had been co-operating with the Metropolitan Police, which is investigating Mr Fielding.Mr Richards said the firm now hoped to draw a line under the incident.
Asked whether any risk management procedures had been implemented as a result, he said: 'What we're doing internally is a matter for us.'A police spokeswoman would not comment on the investigation, saying it was still ongoing.Mr Fielding's lawyer, Gillian Benning, a partner with London firm RadcliffesLeBrasseur, did not wish to speak about the case at this time.Jeremy Fleming
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