Defunct law firm Fox Hayes faces £1m fine

February 19, 2009 Fox Hayes, a Leeds-based law firm that went into administration last month, has been fined nearly £1m for its involvement in overseas share scams that defrauded UK investors of $21m.

Former partners at firm will have to pay the penalty out of their own pockets after the Court of Appeal rueld that the firm "recklessly'' failed to ensure that the schemes it approved were fair and clear, writes the FT.

Read more at www.ft.com.

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