Former Mishcon de Reya property partner Kevin Steele has been convicted of forgery and fraud offences by the Serious Fraud Office (SFO).
The case dates back to 2008 when, still a partner at the firm, Steele helped former client Michael Shephard and his friend Mark Pattinson to fraudulently obtain a €22m (£18.4m) loan from Zurich-based EFG Private Bank.
The fraud was committed using fake letters that purported that Shephard had on deposit the sum of £76m held in two accounts at the Guernsey branch of Bank Julius Baer, which was later accepted as security for the loan.
15 New Bridge Street’s David Aaronberg, prosecuting, told Southwark Crown Court that this was “all lies”.
Additionally, Steele faces a further charge of abusing his position at the firm between October 2007 and September 2008 along with using false instruments and conspiracy to commit fraud by false representation.
His co-defendants pleaded guilty to two charges on the indictment. All three are due to be sentenced in January 2012.
Steele was removed from Mishcon in September 2008 when the firm referred the matter to the police and the SRA. It is understood that he was also a non-executive director at QPR football club.
A Mishcon spokesperson said he was unable to comment on the matter.
Commenting on the result SFO director Richard Alderman said: “I welcome today’s verdict. It’s a victory for honesty and fair dealing in business.”
Readers' comments (11)
Jonathan Dark | 6-Dec-2011 10:57 am
As a former colleague and friend of Kevin, I for one, cannot accept that Kevin is guilty. The Kevin Steele I know doesn't have a dishonest bone in his body; contrary to what the SFO say, this is no victory for honesty - it is my very sincere hope that truth and justice will ultimately prevail.
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Andrew | 6-Dec-2011 12:58 pm
I admire loyalty.
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Miashco | 6-Dec-2011 2:17 pm
So if he is innocent why are the two co-defendants pleading guilty and why aren't his former employers defending him to the hilt?
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Anonymous | 6-Dec-2011 7:56 pm
He was one of the best, good old Kev he always got a round in. He was just doing his best for a client and now he's doing porridge.
It's not right
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Anonymous | 13-Dec-2011 8:56 am
I also know Kevin and have done for many years and have always found him to be a honourable and decent man. I cannot believe that he would entertain serious fraud and it is my hope that he appeals this conviction and is found not guilty. Chin up Kevin
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Anonymous | 17-Dec-2011 9:30 am
Kev is a good bloke. I worked with him in the 90's and its hard to believe the mess he is in.
I lift my pint to him and wish him well, he has a lot of supporters.
cheers matey
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Anonymous | 7-Jan-2012 4:51 pm
Kevin's case sums up Mishcon de Reya when I worked there in the 1990s: Greed, aggressiveness, rudeness and arrogance
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Anonymous | 27-Jan-2012 9:21 am
Nice bloke has nothing to do with it. He has been convicted and this is ging to cost us when he is eventually struck off.
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Ben Zingh | 2-Feb-2012 9:22 pm
kev was the House MD of the legal world and he is a great bloke. i think he was taken in and made a grave misjudgement i hope he gets through this. he didnt need money and was not money motivated i think he was just trying to impress a client and so that he could still show he was a big player at mishcon. he should have semi retired to a his own Surrey practice years ago. what a shame. i hope your ok big man.
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Graham Cornhill | 5-Feb-2012 2:18 pm
I too have known Kevin for years, he has never in my opinion been motivated by money, he has always been a loyal and trusting man that believes in his clients and would never have knowingly done such a thing. I will welcome the day he is free as this truly is a miscarriage of justice. Our thoughts are with you Kevin...
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