The Solicitors Disciplinary Tribunal has recommended that rogue solicitor Michael Lynn be struck off the roll of solicitors and pay penalties of €2m.
The recommendation was made after the Tribunal found him guilty of 57 charges of misconduct brought by the Law Society.
The chairman of the tribunal, Frank Daly, said Mr Lynn had acted in a disgraceful fashion and had caused hardship and considerable loss to people and financial institutions.
He said today's case showed how the conveyancing system could be so ruthlessly abused by one individual for his own fraudulent advantage. The tribunal will forward its findings to the High Court and will also recommend that the case be forwarded to the Director of Public Prosecutions.
Forensic accountants who investigated the solicitor last year said they became immediately concerned about the operation of his practice accounts. They found evidence of widespread fraud, forgery and unlawful use of client funds.
The society outlined how he borrowed millions from financial institutions and engaged in double or triple undertakings on the same properties to secure the loans. He also took clients' money from their accounts for his own use.
