A collapsed law group which incorporated a Maidenhead firm has been linked to ‘sophisticated suspected fraud’ involving the misuse of tens of millions of pounds of client funds, regulators found.

Sheffield-based business PM Law Ltd operated as an umbrella for a network of 11 companies, 25 offices and more than 30 trading names nationwide, employing around 600 staff.

One of the firms under the umbrella was Maidenhead-based Proddow Mackay (Conveyancing) Limited.

A collapsed law group which incorporated a Maidenhead firm has been linked to ‘sophisticated suspected fraud’ involving the misuse of tens of millions of pounds of client funds, regulators found.

Sheffield-based business PM Law Ltd operated as an umbrella for a network of 11 companies, 25 offices and more than 30 trading names nationwide, employing around 600 staff.

One of the firms under the umbrella was Maidenhead-based Proddow Mackay (Conveyancing) Limited.

Today (April 21), the SRA confirmed its ongoing investigation involved ‘improper removal and misuse’ of £39.5million of money held on behalf of its clients.

Its intervention into PM Law is ‘one of the largest and most complex ever undertaken,’ the SRA said.

The body is continuing to contact ‘thousands’ of former clients impacted by the firm’s sudden closure.

There have been a large number of compensation claims; the total value of these, including those already paid out, is estimated to be more than £21.5million.


As such, the regulator is using a prioritisation schedule for processing applications to the SRA compensation fund, which safeguards the public who lose money when a law firm has closed.

The SRA will deal with these in order of the ‘risk of harm’ to claimants.

It has also moved extra staff onto the compensation fund team.

Intervention agents ‘continue to work around the clock’, including weekends, to handle client queries, and have dealt with 17,000 enquiries so far.

Ninety-two claims – totalling £9.3million – have been paid to former clients of PM Law through the scheme. A further £6.8million has been paid out from money held within the firm.

More than 25,000 emails and letters have been sent to people with ongoing legal cases at PM Law, and 9,300 files have been returned to clients – ie, their paperwork and records.

Paul Hastings, SRA director of client protection said: “We are continuing to do all we can to support former clients of PM Law, including by reuniting them with their money or files.

“Some of those affected were in the process of buying or selling a home, facing the risk of collapsed moves, or losing their deposits.

“Others were dealing with delayed probate matters, often while managing bereavement and outstanding estate administration.

“Many of the former clients faced significant upheaval at a stressful time, so we have been determined to provide as much support as possible.”

PM Law did not respond to multiple previous requests for comment.