Teacher Stern LLP
37-41 Bedford Row, London , WC1R 4JH
Recognised body
482952

Decision - Prosecution

Outcome: Referral to Solicitors Disciplinary Tribunal

Outcome date: 18 December 2023

Published date: 15 October 2024

Firm details

Firm or organisation at date of publication and at time of matters giving rise to outcome

Name: Teacher Stern LLP

Address(es): 37-41 Bedford Row, London WC1R 4JH

Firm ID: 482952

Outcome details

This outcome was reached by SRA decision.

Reasons/basis

This notification relates to a Decision to prosecute before the Solicitors Disciplinary Tribunal.  This is an independent Tribunal which will reach its own decision after considering all the evidence, including any evidence put forward by the Respondent(s). The Tribunal has certified that there is a case to answer in respect of allegations which are or include :-

Between 23 December 2013 and 16 May 2014, the Firm permitted its Sterling client account to be used to make 28 payments to 15 different beneficiaries which did not relate to the sale transaction in which the firm had initially been instructed to act and in relation to which there was no underlying legal transaction.

Between 29 May 2014 and 26 August 2016, the Firm permitted its Euro client account to be used to make transfers to 17 beneficiaries which did not relate to the transaction in which the firm had initially been instructed to act and in relation to which there was no underlying legal transaction.

The allegations are subject to a Hearing before the Solicitors Disciplinary Tribunal and are as yet unproven.