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Senior Partner
Senior Partner, Solicitor
Category: Law
Satisfied Customers: 13325
Experience:  Solicitor with more than 30 years experience
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I have been threatened by a law firm, based in Chancery Lane,

Resolved Question:

I have been threatened by a law firm, based in Chancery Lane, in that they intend to commence legal action against me for the recovery of funds, claimed to be money belonging to their client (which actually turned out not to be the case and a full money laundering enquiry was undertaken against me acting as agent from 2003 to 2009 in Switzerland) and yet, the original agreement was entered into in 2002 (14 years ago) and under the terms of the contract, it clearly stated that the funds to be invested would have to come from the investors own resource, which turned out not to be the case.
In addition, the funds were not directly given to myself, as a individual in the UK, but as an agent representing an commercial Investment company in Switzerland.
I would like to know if, under the circumstances, any such claim could be brought against me after such time (14 years) and for the fact that it was the investors fault which caused the investment to be stopped (as confirmed by the Swiss Federal Court in 2009) due to the original funds being sent from an unknown and unrelated individual and not from the investors own account ad was required.
All charges for money laundering were dropped on my part and compensation for losses incurred to my financial business were not allowed, due to the fact that the Swiss Authorities sited blame on the investors for causing the money laundering investigation!
Any views on the above and what steps should be taken would be appreciated.
Kind regards,
DK
Submitted: 2 years ago.
Category: Law
Expert:  Senior Partner replied 2 years ago.
Hi thanks for your question. Can you explain hat has happened to the funds? From what you say the funds were made available to your investment company but because the true source was not disclosed this resulted in a money laundering investigation. However presumably once that was concluded the funds would have been released?
Customer: replied 2 years ago.

Indeed they were released back in 2009, but prior to that (2007), I had agreed to, subject to my fees and cost being deducted if successful in recovering any of the funds, returned funds to them, which i did.

The Investment total was £500,000 and they received £400,000 back as agreed with them in 2009. The £100,000 balance was set off against the overseas recovery fee and costs.

The business losses (including my funds) were more than £250,000 and i am still out of pocket!

If you have an email, i would be more than happy to send you a copy of the original agreement?

Expert:  Senior Partner replied 2 years ago.
If the funds have been returned then on what basis are they claiming the money back form you? It does not soudn a valid basis for claim if you reached an agreement 5 years ago. On what basis are they no claiming?
You cannot of course stop a claim being made and if the return of the funds was less than 6 years ago, it owudl not be time barred. that doe snot of course mean it is a valid claim if you reached an agreement about the costs etc.
Senior Partner, Solicitor
Category: Law
Satisfied Customers: 13325
Experience: Solicitor with more than 30 years experience
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