Mortgage lender loses £4m to solicitor

10 June 2010 | By Natalie Thomas

He has agreed to abide by the restrictions for the maximum 15-year period following an investigation by The Insolvency Service.

In signing his undertaking Gilbert, a resident of Windsor, who worked from an office in Maidenhead agreed he had abused the trust of his clients and ‘breached his duties as a practising solicitor’leading to debts of at least £9m.

Gilbert, who was declared bankrupt in June 2009, had assets of £144,145.00.  The major claims against him related to the receipt and disposal of funds received from an unnamed mortgage lender for approximately £4m, and a claim from  Willmetts Solicitors, Gilberts previous employers for almost £5m.

David Gordon the official receiver at Cardiff, says:  “The fact Gilbert has agreed to a 15-year bankruptcy restrictions order, the maximum time available, should reassure the public that when bankrupts are found to have acted against the public interest, and in this case abused their professional position The Insolvency Service will take action to impose sanctions against them.”

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