Two conveyancing solicitors in the West Midlands face a disciplinary hearing following an investigation by the Solicitors Regulation Authority (SRA) after they acted for multiple clients who sold their homes through a ‘fast sale’ property website.
The BBC reports that Meena Kumari and Teena Kumari Banga have been required to attend the hearing over allegations they acted in conveyancing transactions they either knew, or should have known, were fraudulent.
Both have told the BBC they do not wish to comment ahead of the SRA disciplinary hearing on the 21st June.
The case follows a West Midlands police investigation into speedypropety.co.uk which offered house sellers a fast-cash, quick-sale service.
The force says several people connected to the company have been arrested and released pending further enquiries.
The SRA has so far paid out nearly £875,000 to a dozen former clients of the firm through its compensation fund.
These payments are not based on any findings of dishonesty but offer discretionary grants to clients of law firms if their financial loss occurred while receiving legal services.
It is alleged that speedyproperty.co.uk bought the properties off distressed vendors but paid them substantially less than their market value, and that the two solicitors involved were contracted to handle the sales.
The SRA disciplinary hearing will consider whether the duo acted in conveyancing transactions they knew to be fraudulent, or which they should have known bore the ‘hallmarks’ of fraud or money laundering.
The allegations against both cover a period from 2013 to mid-2017, and their legal practice is subject to SRA conditions pending conclusion of the disciplinary hearing.