James Alexander Gregg

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

Gregg, a solicitors' clerk, became involved in a purported US$25m loan/'prime bank guarantee' transaction. He wrote letters to a Canadian lawyer and London solicitors giving misleading reassurances about B Limited, which was in fact a dormant company that had never traded, and about Mr N's authority to act, which he never had. The Tribunal found the allegation of making misleading statements substantiated, noting his involvement lent credibility to a fraudulent scheme, though the applicant's case was that he assisted rather than conspired. The Tribunal made the section 43 order sought and ordered costs. No express finding of dishonesty was made.

Duties found breached:

• Proper basis for allegations

Mitigating factors:

• Close to retiring age (nearly 63)
• Did not enjoy a high standard of living; unemployed and on income support
• Home repossessed and office closed
• Cared for his wife for twenty months before her death, affecting his own health
• Undergoing treatment for clinical depression
• Believed Mr N and the transactions were genuine; applicant's case was that he was not a co-conspirator