A LAWYER has been found guilty for the second time in five years of breaking strict rules designed to stop money laundering.
Glasgow solicitor Eileen Coogans was given a three-year supervision order after she was found guilty of professional misconduct.
The hearing in Edinburgh was told that Ms Coogans, 62, did not carry out proper checks after a property was resold within days, netting a massive profit for the seller.
In 2007, the same lawyer was fined £4,000 after she admitted failing to record where money was coming from.
Misconduct
Strict regulations force lawyers to check that clients’ money is likely to have been legitimately obtained. This is to stop criminals and terrorists using respected institutions to launder their cash.
At a hearing of the Scottish Solicitors’ Discipline Tribunal (SSDT), Ms Coogans faced two charges of professional misconduct.
Sean Lynch, representing the Law Society of Scotland, which prosecuted the case, said one of the charges involved breaking anti-money laundering guidelines.
He said Ms Coogans did not carry out due diligence when a property was sold on within a matter of days after being bought from a builder.
Detailed news link: click here