• March 28, 2024
 Man found guilty of £1.5 million inheritance fraud

Man found guilty of £1.5 million inheritance fraud

Bristol Crown Court have found a Gloucestershire man to be guilty of extensive financial fraud, following a three week trial ending this week. He had syphoned over a million pounds from family inheritance, by forging the signatures of his deceased mother, and other brother, who now lives in Singapore.

Peter Howes, 53, unlawfully gained equity release of his late parents’ £1.5 million estate, which was only discovered after the death of his mother, Joyce, back in 2011. Howes’ brother Jonathan was made aware of probate issues, after having discussed the matter with the family solicitor.

The court was informed the brothers were given a letter affirming the estate was to be divided equally between them. However, Jonathan found the bank wasn’t aware of his mother’s death and the solicitor was under the impression any trust funds were to be closed.

In 2009, Howes began the process by transferring the contents of his mother’s bank account into a joint account and later into an account only in his name. At the time, this action didn’t raise concern, as the account was owned by both Peter and Joyce Howes. It was later discovered Joyce had no knowledge of the account, and her signature had been forged.

Money from the account was used to by a 40% share of an online gaming company, established by his wife’s relative. The couple continually denied all charges made against them throughout proceedings and Howes’ wife, Jane was acquitted of the charge against her.

As well as taking money from his mother’s bank account, Howes cashed in the funds from his father’s trust funds, set up prior to his later death in 2004. He gave half the proceeds to Jonathan, which came as a shock to the brother, as they’d never discussed closing the trusts.

This particular case raise questions regarding the screening process within probate — should administration be made stricter and supervision be given to beneficiaries, by regulated law professionals? Share your views in the comments section below.

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