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SRA imposes largest-ever fine, of almost £4 million

Britain’s Solicitors Regulation Authority (SRA) has imposed its largest-ever fine of almost £4 million, in a case of misuse of client funds.

Nurul Miah, who is not a solicitor, was the owner and a manager of Kingly Solicitors Limited of Berkeley Square, London W1, between 3 April 2017 and 23 July 2020.

Miah was directed to pay a financial penalty of £3,984,440 and ordered to pay costs of £41,670.

A finding of dishonesty was made against Nurul Miah, and he was made subject to a disqualification order.

The SRA has also disqualified Nurul Miah from holding various law-firm roles.

Shut down

The law firm, originally RH Legal (Bristol) Ltd, was shut down by the SRA in 2020 following serious concerns about the misuse of client funds.

Investigations revealed 310 improper transfers from client accounts to companies linked to Miah.

These were used for inappropriate purposes such as loan repayments, and to buy assets unrelated to the business.

The SRA uncovered forged statements attempting to conceal these unauthorised transactions.

It reported its findings and supporting evidence to law enforcement authorities. 

Shortfall

Despite the return of some funds, a shortfall of approximately £10 million remained at Kingly. The SRA closed the firm down, securing £22.5 million in client money, and ensuring appropriate redress through its compensation fund.

It also collected and secured 220,000 files from the various offices, including more than 90,000 wills and deeds.

SRA chief executive Paul Philip said: “This is the largest fine we have ever issued. Mr Miah's dishonesty impacted thousands of people.”