The collapsed law firm PM Law Ltd is at the center of a suspected fraud involving the improper removal and misuse of £39.5 million of client funds.

Collapsed law firm at centre of £39.5m fraud probe Sheffield-based PM Law Ltd, which had 25 offices across England, closed suddenly on 2 February. https://www.bbc.com/news/articles/c0q9x04k42qo?at_medium=RSS&at_campaign=rss (c) #BBC #News

BBC News | Collapsed law firm at centre of £39.5m fraud probe AI generated summary, Read the full article for complete information. A Sheffield‑based law firm, PM Law Ltd, which operated 25 offices across Yorkshire, Cumbria, Berkshire, Derbyshire and London and employed over 600 staff, suddenly collapsed on 2 February and entered voluntary liquidation on 3 March, prompting a major investigation by the Solicitors Regulation Authority (SRA). The regulator says the firm is at the centre of a “sophisticated suspected fraud” involving the improper removal and misuse of £39.5 million of client funds, with more than £21 million in claims already made to the SRA’s compensation fund. As of 17 April, the SRA had paid £9.31 million to 92 former clients and returned £6.8 million held by the firm, while 9,300 client files were restored. The SRA is working to reunite clients with their money or files and to support those affected by the firm’s abrupt closure, which left hundreds of staff jobless and disrupted many personal‑injury, will and conveyancing matters, including property transactions. Read more: https://www.bbc.com/news/articles/c0q9x04k42qo?at_medium=RSS&at_campaign=rss #PMLaw #SRA #Sheffield AI generated summary, Read the full article for complete information.