UK: Solicitor fined for inaccurate declaration over £1m Covid loan

Legal Futures writes

A solicitor who signed an inaccurate declaration that her law firm held £1m in its client account, triggering the release of a £1m Covid loan to a client, has been fined £15,000.

The Solicitors Disciplinary Tribunal (SDT) said Asiya Nasim Kaleem’s “pusillanimity” in failing to challenge her non-lawyer supervisor’s assurance that she could sign it amounted to a serious lack of integrity.

Ms Kaleem, who qualified in 2016, was at the time head of litigation at Sheffield firm Alison Law Solicitors and also its compliance officer for legal practice.

The Future Fund (FF) was a government loan scheme designed to support UK-based companies facing financing difficulties due to Covid-19.

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Solicitor fined for inaccurate declaration over £1m Covid loan