A solicitor who failed to tell building societies

A solicitor who failed to tell building societies about transactions which had ‘all the ingredients of mortgage fraud’ was fined pnds stlg 2,000 today.

(Thurs)

Nigel Akroyd (corr), 59, ignored his instructions during property deals and so fell ‘well below the standards’ of the profession, the Solicitors’ Disciplinary Tribunal.

An investigator who inspected the books at his firm John O’Connor and co at Nottingham and Derby in July last year discovered several failures.

In one case where the purchasing price of a property was reduced by pnds stlg 1,500, Mr Akroyd admitted he did not read the instructions.

During another the Solicitors Disciplinary Tribunal heard he failed to notify the Abbey National of a pnds stlg 3,500 loan agreed between the purchaser and the vendor in February, 1999.

Peter Cadman, acting for the Law Society, said it was not an issue of dishonesty or fraud.

‘It is a conduct matter.

A series of conveyancing transactions in which he acted for the purchaser and lending institutions.

‘He failed to notify the lending institution of relevant matters and misled the institutions through the information provided.

‘This is a matter where all the ingredients of mortgage fraud were present and Mr Akroyd had contractual and contract duty to report these matters to the lending institution.

‘The building society and developer were behaving in an honest way and there was no loss involved.

‘But if he does not follow instructions the profession has suffered financially where solicitors have been instructed and have taken a view of the probity of those involved which is wrong.

‘He has fallen well below the standards of a solicitor.

‘

Tribunal Chairman Andrew Spooner said the panel found Mr Akroyd guilty of conduct unbefitting a solicitor by failing to tell clients relevant information.

But they dismissed the allegation he had misled clients and fined him pnds stlg 2,000.

Mr Akroyd denied both allegations.

Andrew Lockley, defending, said Mr Akroyd believed he had been punished enough by worry and insomnia since the allegations surfaced.

‘The conduct was not of such a disgraceful level to be conduct unbefitting.

‘He is somebody of completely good character who has had an unblemished 36 years in the profession.

‘He has carried out 12,000 conveyancing transactions without a complaint.

That is a remarkable achievement.

‘

The Vicar of Worksop, who sees Mr Akroyd on occasions he attends service, wrote a statement in support saying he was a man of integrity and had always been trustworthy.

Mr Akroyd also serves as clerk of the Board of Governors at Worksop Primary School, of which the vicar is Chairman.

He claimed he had failed to notify the building society because he ‘believed and assumed’ the Head Office had been told by the Area Office.

Mr Akroyd, who works at John O’Connor and co solicitors in Gothic House, Barker Gate, Nottingham, and 18-20 St Peter’s Churchyard, Derby, was ordered to pay costs of pnds stlg 3413.

14.

ends