<p>London: Britain's Serious Fraud Office on Friday charged the CEO of collapsed law firm Axiom Ince with fraud over the alleged improper use of more than 60 million pounds ($75.02 million) of client money.</p><p>Pragnesh Modhwadia was charged with two counts of fraud by abuse of position, alongside co-director Shyam Mistry and chief financial officer Muhammad Ali, the SFO said.</p><p>The agency said Modhwadia and Mistry had also been charged with conspiring to conceal, destroy or dispose of documents relevant to a Solicitors Regulation Authority (SRA) investigation, alongside chief technology officer Rupesh Karawadra and vice president of IT Jayesh Anjaria.</p> .<p>All five are also charged with conspiring to mislead the SRA using false documents. They are due to appear at London's Westminster Magistrates' Court on Jan. 15.</p><p>"The collapse of Axiom Ince left thousands of clients exposed to significant losses and hundreds of people out of a job," SFO director Nick Ephgrave said in a statement.</p><p>"The SFO set out to identify and bring those responsible to justice and today's charging is a significant milestone in achieving that."</p><p>Axiom Ince, which has no connection to US legal services provider Axiom Law, collapsed in October 2023. </p>
<p>London: Britain's Serious Fraud Office on Friday charged the CEO of collapsed law firm Axiom Ince with fraud over the alleged improper use of more than 60 million pounds ($75.02 million) of client money.</p><p>Pragnesh Modhwadia was charged with two counts of fraud by abuse of position, alongside co-director Shyam Mistry and chief financial officer Muhammad Ali, the SFO said.</p><p>The agency said Modhwadia and Mistry had also been charged with conspiring to conceal, destroy or dispose of documents relevant to a Solicitors Regulation Authority (SRA) investigation, alongside chief technology officer Rupesh Karawadra and vice president of IT Jayesh Anjaria.</p> .<p>All five are also charged with conspiring to mislead the SRA using false documents. They are due to appear at London's Westminster Magistrates' Court on Jan. 15.</p><p>"The collapse of Axiom Ince left thousands of clients exposed to significant losses and hundreds of people out of a job," SFO director Nick Ephgrave said in a statement.</p><p>"The SFO set out to identify and bring those responsible to justice and today's charging is a significant milestone in achieving that."</p><p>Axiom Ince, which has no connection to US legal services provider Axiom Law, collapsed in October 2023. </p>