Marc Jacob's former law firm hit with record fine

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RubiconCSL
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Re: Marc Jacob's former law firm hit with record fine

Post by RubiconCSL »

Unless of course you are the sort of punter who is looking for just that sort of solicitor. But yes, assuming most people are actually basically honest, then I hope it causes them a huge amount of trouble.
RadioDept wrote:...If you're considering engaging them, and a google search turns up that they've been given the largest ever fine by the SDT, you'd be a mug to go to them surely? In terms of reputational damage, it must be pretty significant.
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Re: Marc Jacob's former law firm hit with record fine

Post by Locky_McLockface »

RubiconCSL wrote:Unless of course you are the sort of punter who is looking for just that sort of solicitor. But yes, assuming most people are actually basically honest, then I hope it causes them a huge amount of trouble.
RadioDept wrote:...If you're considering engaging them, and a google search turns up that they've been given the largest ever fine by the SDT, you'd be a mug to go to them surely? In terms of reputational damage, it must be pretty significant.


I s'pose that's what they mean about no publicity being bad publicity. :evil:
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Re: Marc Jacob's former law firm hit with record fine

Post by Chiswick Blue »

Perhaps the people of Portsmouth could take action against him for bringing their club and city in disrepute?
"If you would take the pains but to examine the wars of Pompey the Great, you shall find, I warrant you, that there is no tiddle-taddle nor pibble-pabble in Pompey's camp." - Henry V - Act 4, scene 1
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Re: Marc Jacob's former law firm hit with record fine

Post by RadioDept »

Wimbledon Blue wrote:Perhaps the people of Portsmouth could take action against him for bringing their club and city in disrepute?
No idea whether this is legally possible, but I personally would rather see the vast amount of money this would cost go into the club rather than lawyers' deep pockets.

'English justice, like the Ritz, is open to all', etc.

Would love to see that Baker Tilly report though. Am half tempted to write an email to their press team. Would be a complete waste of time I imagine, but can't think of any other avenues.
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Re: Marc Jacob's former law firm hit with record fine

Post by Chiswick Blue »

RadioDept wrote:
Wimbledon Blue wrote:Perhaps the people of Portsmouth could take action against him for bringing their club and city in disrepute?
No idea whether this is legally possible, but I personally would rather see the vast amount of money this would cost go into the club rather than lawyers' deep pockets.

'English justice, like the Ritz, is open to all', etc.

Would love to see that Baker Tilly report though. Am half tempted to write an email to their press team. Would be a complete waste of time I imagine, but can't think of any other avenues.
A collective group of Michael Jackson fans have won a case against his Doctor for their emotional distress and suffering due to his negligence!
It was for a token amount of €1 EUR but the precedent has been set.
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Re: Marc Jacob's former law firm hit with record fine

Post by iceypi »

Interesting thread gents. My apologies for the bump but for my own personal reasons it was something I felt I had to comment on. The breach Fuglers commited for which the SRA have severely reprimanded them for was a very serious one and I'm surprised there were no suspensions handed out to the solicitors involved. The issue with using a solicitors' firm's client as a banking facility is the potential to assist with or facilitate money laundering, and of course the potential damage to the integrity of the profession which may result. Whilst the breach was a serious one, there was no harm done to Pompey as a result, the victim is the profession which could be seen as being open to abuse and being a haven for criminals and money launderers. I do not see therefore that it would be open to the club to take any recourse.

I think it worth stressing that the reason they did this was because the club's own bank accounts were frozen. Clearly the club needs access to a banking facility in order to operate its business and they were trying to keep the club going and ensure it operate a normal business in so far as possible. Believe me, as improperly as they may have acted in the eyes of the profession, Mark Jacob's primary objective in all this was to try to keep the club in business.
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Re: Marc Jacob's former law firm hit with record fine

Post by The Cincinnati Kid »

iceypi wrote:Interesting thread gents. My apologies for the bump but for my own personal reasons it was something I felt I had to comment on. The breach Fuglers commited for which the SRA have severely reprimanded them for was a very serious one and I'm surprised there were no suspensions handed out to the solicitors involved. The issue with using a solicitors' firm's client as a banking facility is the potential to assist with or facilitate money laundering, and of course the potential damage to the integrity of the profession which may result. Whilst the breach was a serious one, there was no harm done to Pompey as a result, the victim is the profession which could be seen as being open to abuse and being a haven for criminals and money launderers. I do not see therefore that it would be open to the club to take any recourse.

I think it worth stressing that the reason they did this was because the club's own bank accounts were frozen. Clearly the club needs access to a banking facility in order to operate its business and they were trying to keep the club going and ensure it operate a normal business in so far as possible. Believe me, as improperly as they may have acted in the eyes of the profession, Mark Jacob's primary objective in all this was to try to keep the club in business.
Welcome,
Call me Captain Suspicious, but may I ask what your angle is and how you came to dig up a 5 month old thread to comment upon?
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Re: Marc Jacob's former law firm hit with record fine

Post by uspompeyfan »

The Cincinnati Kid wrote:
Welcome,
Call me Captain Suspicious, but may I ask what your angle is and how you came to dig up a 5 month old thread to comment upon?
Maybe because there isn't much else to discuss until August 9th :-)
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Re: Marc Jacob's former law firm hit with record fine

Post by BlueinPLtwenty »

[quote="uspompeyfan"][quote="The Cincinnati Kid"]

Welcome,
Call me Captain Suspicious, but may I ask what your angle is and how you came to dig up a 5 month old thread to comment upon?[/quote]

Maybe because there isn't much else to discuss until August 9th :-)[/quote]

It is his first and only post!
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Re: Marc Jacob's former law firm hit with record fine

Post by Lost in Transportation »

The Cincinnati Kid wrote:Call me Captain Suspicious, but may I ask what your angle is and how you came to dig up a 5 month old thread to comment upon?
Its interesting isn't it?
iceypi wrote:The issue with using a solicitors' firm's client as a banking facility is the potential to assist with or facilitate money laundering, and of course the potential damage to the integrity of the profession which may result. Whilst the breach was a serious one, there was no harm done to Pompey as a result, the victim is the profession which could be seen as being open to abuse and being a haven for criminals and money launderers. I do not see therefore that it would be open to the club to take any recourse.
This is simply an attempt to mislead and some parts are untrue.

£4.5m left the club via the banking facility provided by Fuglers to Portpin and 'friends' of Portpin after a winding up notice had been served in the courts. This is in clear breach of insolvency regulations.

Furthermore, it is not the club that will seek recourse as that particular entity has been sold a couple of times over since Fuglers involvement. It will be Baker Tilly, the liquidators of Portsmouth City Football Club Ltd.

And its worth restating that Marc Jacob admitted that what he did was wrong but was acting under duress. Harm was done to the football club, its staff and its creditors by a deliberate administration designed to debt-wash and distress a business. The poster iceypi can f*ck off.
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Re: Marc Jacob's former law firm hit with record fine

Post by RadioDept »

Lost in Transportation wrote:The poster iceypi can f*ck off.
Good point, well made.

I'd actually prefer old iceypi to stick around though - would like an explanation of what his/her dog is in this particular fight. A former colleague of Mr Jacobs perhaps?
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Re: Marc Jacob's former law firm hit with record fine

Post by RadioDept »

iceypi wrote:Believe me, as improperly as they may have acted in the eyes of the profession, Mark Jacob's primary objective in all this was to try to keep the club in business.
I'd love iceypi to expand on this in particular. Feels more to me like Mark Jacob's primary objective in all this was to try and keep the (ultimate) client happy, but then I wasn't on the inside, so if iceypi was I'd be all ears.
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Re: Marc Jacob's former law firm hit with record fine

Post by Lost in Transportation »

RadioDept wrote:
Lost in Transportation wrote:The poster iceypi can f*ck off.
Good point, well made.

I'd actually prefer old iceypi to stick around though - would like an explanation of what his/her dog is in this particular fight. A former colleague of Mr Jacobs perhaps?
I'll amend my statement - the poster iceypi can f*ck off with his suggestion that PFC wasn't harmed by Jacob and Fuglers.
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Re: Marc Jacob's former law firm hit with record fine

Post by uspompeyfan »

Whoever the poster is, it would be fair to imagine that he has no street cred on this board, especially as he didn't post on any other thread.
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