Kennedys partner sacked as police probe alleged £1m theft

A partner at Kennedys has been dismissed from the firm and is facing a police investigation following ­allegations that he stole close to £1m from a client.

Senior Partner, Nick Thomas

In April 2010 Kennedys discovered irregularities in relation to client funds and London-based commercial partner Peter Lloyd-Cooper, whose clients include a number of high-net-worth individuals, was suspended.

Kennedys said it immediately ­reimbursed the victim of the alleged theft, but could not comment on which client was affected or how much was allegedly stolen, although sources familiar with the incident said the ­figure is close to £1m.

Last month Kennedys was given the all-clear by the Solicitors Regulation Authority (SRA). Lloyd-Cooper is expected to be struck off the roll of ­solicitors and the matter is being dealt with by the police.

Senior partner Nick Thomas said: “In April 2010 irregularities with regard to client money came to light. Peter Lloyd-Cooper, a ­partner in our commercial department, was suspended and reported to the SRA. After an internal inquiry the client was made good and Mr Lloyd-Cooper expelled from the partnership.

“The SRA has conducted inquiries into both Mr Lloyd-Cooper and Kennedys as a firm. Last month we received a letter from the SRA saying there was no ­criticism of any individual but Mr Lloyd-Cooper, ­confirming that it had no criticisms of our systems. We understand that the SRA is proceeding against Mr Lloyd-Cooper and we will continue to cooperate with it and the police.”