Robert Mannering Sedgwick, 76, who acted for the failed investment firm London Capital & Finance, is set to face the Solicitors Disciplinary Tribunal amid accusations he “facilitated the preparation, execution and circulation of backdated documents“, the mouseinthecourt can exclusively report.
Reporting by freelance journalist and blogger Daniel Cloake
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Between 2013 and December 2018 LC&F raised a total of over £237 million from 11,600 bondholders. A 43-day-trial at London’s High Court established that the firm was in fact a massive Ponzi scheme with monies invested used to make payments to the defendants to use “as they wished”.
Mr Sedgwick was, at various times, a director and/or company secretary of the various companies that were direct and indirect recipients of sums from LC&F.
He was also responsible for drafting many of the documents used when borrowing companies acquired assets from individuals connected to LC&F.
He was also the owner and controller of LCF’s security trustee, Global Security Trustees, until 31 March 2018.
In a landmark 2024 judgment Mr Justice Robert Miles “found that at all material times Mr Sedgwick had actual or blind-eye knowledge of the fraudulent scheme carried on by LCF. His conduct was therefore objectively dishonest throughout.“
Sedgwick had denied accusations of wrongdoing throughout the trial.
In a recently published decision notice by the Solicitors Regulation Authority we’re told the Solicitors Disciplinary Tribunal:
Has certified that there is a case to answer in respect of allegations which are or include that, while a consultant employed at Buss Murton Law LLP and subsequently as an independent consultant:-
In March 2016, while acting as a consultant employed by the Firm, he facilitated the preparation and execution of a back-dated document;
In August 2017, while acting as an independent consultant, he facilitated the preparation, execution and circulation of a back-dated document purporting to be an assignment of loan;
In the period January – March 2019, while acting as an independent consultant, he facilitated the preparation, execution and circulation of backdated documents, being a call option agreement and a facility agreement.
In the period 30 December 2015 to 31 March 2018, he owned, controlled and was sole director of Global Security Trustees Limited (‘GST’), whose role was to act as security trustee protecting the interests of bondholders, notwithstanding an obvious conflict in doing so (or significant risk thereof) given his previous and ongoing instructions (as consultant employed by the firm and thereafter as an independent consultant) for borrowers and/or persons with an interest in these borrowers
The statement records that the allegations are subject to a hearing before the Solicitors Disciplinary Tribunal and are as yet unproven.
The mouseinthecourt published extensive documents from the LC&F High Court trial, including daily transcripts, witness statement, and written submissions.
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