John Costa Constantinides

Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision

John Costa Constantinides, a sole practitioner solicitor admitted in 1978, admitted allegations of breaching the Solicitors' Accounts Rules, acting in a conflict of interest, failing to act in a client's best interests, and accepting instructions he was unable to properly advise on, in relation to a fraudulent High Yield Investment Scheme in which his client Mrs CM lost US$1 million. The Respondent acted despite a conflict of interest with Westminster Services Ltd (a company in which he was shareholder/director/trustee and from which he expected a large fee), failed to disclose these interests, and encouraged the client to believe he was competent to advise when he was not. The Tribunal found his conduct dishonest applying the Twinsectra test to the criminal standard of proof and struck him off the Roll, ordering him to pay costs including the forensic accountant's costs and two interlocutory hearings.

Duties found breached:

• No improper communication with the court
• No own-interest conflict
• No conflict between current clients
• No improper use of client money
• Good faith and courtesy to colleagues

Aggravating factors:

• Undisclosed conflict of interest involving Westminster Services Ltd, of which he was shareholder/director and trustee
• Expected to receive a substantial fee (US$150,000-US$200,000) creating a personal financial interest in the client entering the scheme
• Encouraged client to believe he was competent to advise when he had no knowledge or competence
• Very large sum of money involved (US$1 million) with client at risk of substantial loss
• Ignored obvious warning signs including Law Society Yellow Card indicators and Barclays' closure of client's account
• Involvement lent a cloak of respectability to a bizarre and fanciful scheme

Mitigating factors:

• Previously unblemished career of long standing (admitted 1978)
• Well thought of in the Greek community, with strong character witnesses
• Had not practised since Law Society intervention in October 2001 (some 3.5 years)
• Cooperated fully with the FIO and provided the client file
• Well-run and well-managed firm; client account funds never in danger
• Replaced the cash shortage on the accounts
• Serious personal and financial consequences including loss of home and health