By DAISY SAMPSON
DISCIPLINARY ACTION against fugitive solicitor Michael Lynn is being pursued by the Solicitors Disciplinary Tribunal (SDT) after a series of complaints about his legal practises, including his involvement at the Costa Cabanas Resort in Tavira.
Lynn was the founder of Kendar Holdings, the company who sold the Costa Cabanas development that later collapsed leaving investors fearing they may lose the money they invested in the development (see The Resident, February 22 2008).
The SDT is an independent body that adjudicates complaints against solicitors. They have frozen all Michael Lynn’s accounts and suspended his certificate as a solicitor.
Lynn has been found guilty of 57 charges of misconduct brought against him by the law society, including securing loans from different institutions on the same properties. He has also been fined an unprecedented two million euros by the SDT and the findings of the tribunal will be forwarded to the High Court in Ireland.
Investigators at the Law Society found evidence of forgeries used to try and cover transaction details and also revealed that Lynn had unlawfully used clients’ funds.
Michael Lynn allegedly owes Irish banks and other financial institutions more than 80 million euros and has failed to appear at a number of court hearings against him. He currently faces 138 charges against him, including cases filed by Ulster Bank Ireland, Irish Nationwide Building Society and the Bank of Scotland (Ireland).
It has been speculated that Michael Lynn is still in Tavira but Portuguese authorities have no jurisdiction to arrest him there because the cases against him are civil and not criminal.
The case against Michael Lynn will be heard again by the SDT on May 23.
The Law Society has already struck off Lynn and now intends to ask the high court to implement the tribunals’ recommendations.
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