Former Mishcon de Reya partner sentenced to 5 years prison for fraud and forgery
Mishcon de Reya partner has been sentenced to five years in prison for participating in a €22m loan scam. Kevin Steele was convicted by the Serious Fraud Office for forgery and fraud offences in December.
In 2008, while still a property partner at Mishcon, Steele helped his client Michael Shephard and his friend Mark Pattinson to fraudulently obtain a €22m loan from Zurich-based EFG Private Bank. The trio had falsely represented that Shephard had £76m held in two bank accounts, and used the sum as security for the loan.
Pattinson was sentenced to 18 months in prison for his part in the fraud, and Shephard was sentenced to six years and three months imprisonment as well as being disqualified from holding a position of company directorship for 15 years.