16 Aug 2019
A property development firm is trying to have the lawyer famed for representing creditors to late tycoon Scott Young imprisoned in a bitter legal dispute over the whereabouts of millions of pounds in misappropriated funds.
Stephen Jones is said to have lied to clients, the courts and the National Crime Agency about £17.5 million that had been diverted from his firm’s client account.
American developers Discovery Land Company (DLC) instructed Jones’ law company Jirehouse to oversee the purchase of Taymouth Castle, nestled in the Highlands of Scotland.
Just over £11.6 million ($14,050,000) was wired into an account controlled by Jirehouse in April 2018 and DLC claim it was then moved into other companies oversaw by Jones.
The funds were then further transferred into the hands of two multimillionaire businessmen.
Edward Levey, representing DLC who seek to have Jones committed to prison, told the High Court: ‘The facts giving rise to the application are quite extraordinary.
‘They involve the misappropriation of approximately £17.5m of clients monies, and Mr Jones misleading his then client DLC, DLC’s subsequent solicitors, the National Crime Agency, and the court as to the whereabouts of those monies.
‘The initial purchase funds ought to have been held in the Jirehouse Trustees’ client account pending completion of the transaction.
Read more at Evening Standard
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