Solicitors Silent Over £500,000 Scam Loss of Tony Hetherington
Rewritten Article:
Elderly couple, aged 81 and 73, find themselves out of pocket after falling victim to a cunning scam. The con began when a man, claiming to be from Capital Group, approached them with an offer of investment bonds.
Enticing details were shown, suggesting the investments were safe. Trusting the assurances, the couple transferred £500,000 to the bank account of Kenneth Jones Solicitors, as instructed. Yet, no interest materialized, and when they inquired with Capital Group, the company was puzzled.
An experienced investigative journalist, Tony Hetherington, probed the matter further. He discovered that while the investment companies, Capital Group and National Grid, are genuine, the perpetrator had swindled the couple's trust by assuming their identities.
When the couple checked with their bank, Lloyds, they were horrified to find that the money hadn't disappeared into thin air. Instead, it was deposited in the Barclays account of Kenneth Jones Solicitors – a genuine law firm in Stoke-on-Trent. Alas, the scammer had convinced the couple to transfer their remaining £30,000 into Metro Bank bonds.
Capital Group admitted their helplessness in the situation. The London office directed the couple to their office in Los Angeles, where they realized they had been swindled. The US team suggested the couple contact the police and their bank for further assistance.
Despite the bank confirming the transactions and the law firm acknowledging the deposited funds, communication with Kenneth Jones Solicitors remained elusive. The managing director, Ajaz Ali, refused to divulge the whereabouts of the couple's savings.
Tony Hetherington pointed out that, given the sizeable deposit, the solicitor should have been provided with clear instructions on how to handle the funds. Yet, the law firm remained silent.
What Should You Do if You're a Victim of Financial Wrongdoing?
If you believe you've been the target of a financial scam, it's essential to take swift action:
- Contact the Securities and Exchange Commission (SEC): Fill out the SEC's Tips, Complaints & Referrals (TCR) online form to confidentially submit evidence, protector your identity, and aid investigations[1][2]. It's advisable to consult with a securities fraud attorney prior to contacting the SEC to ensure you're prepared for any potential inquiries.
- Report to State Financial Protection Agencies: Depending on your location, you may also want to get in touch with state-specific agencies, such as the Department of Financial Protection and Innovation (DFPI), for guidance and assistance[5].
- File a Complaint with the Federal Trade Commission (FTC): Although the FTC primarily handles consumer complaints, reporting the scam to their system can help track patterns and prevent future deceptions[3].
If you suspect misconduct by a lawyer, consult a legal professional and file a complaint with your state bar association. Gather any evidence of unethical behavior for a thorough investigation. Lastly, keep meticulous records of all communications and evidence, and consider seeking compensation for financial losses through legal action.
- After realizing you've been victimized by a financial scam, promptly reach out to the Securities and Exchange Commission (SEC) via their online Tips, Complaints & Referrals (TCR) form to anonymously submit evidence, aid investigations, and protect your identity.
- As an additional precaution, consider reporting the scam to state-specific Financial Protection Agencies, such as the Department of Financial Protection and Innovation (DFPI), for additional guidance and assistance.
- File a complaint with the Federal Trade Commission (FTC) to help track patterns and prevent future misconduct, though they primarily handle consumer complaints.
- If misconduct by a lawyer is suspected, consult a legal professional and file a complaint with your state bar association, ensuring that you gather and preserve any evidence of unethical behavior for a thorough investigation.
- Keep impeccable records of all communications and evidence, as they might be crucial in the event of legal action to seek compensation for any financial losses.
- Venture further into the realm of personal-finance and general-news to remain informed about crime-and-justice trends, enabling you to identify potential scams and stay protected in your financial endeavors.
