The SRA stated the intervention into PM Law had been one of the biggest and most complicated it had ever undertaken, involving 25,000 emails and letters and 17,000 inquiries.
Paul Hastings, the SRA’s director of consumer safety, stated: “We are continuing to do all we can to support former clients of PM Law, including by reuniting them with their money or files.
“Many of the previous purchasers confronted vital upheaval at a nerve-racking time, so we have now been decided to offer as a lot help as attainable.”
According to the regulator, as of 17 April, 92 claims totalling £9.31m had been paid to former clients from the SRA Compensation Fund.
A further £6.8m had been paid out from money held within the firm at the time the SRA intervened, meanwhile 9,300 files had been returned to clients, the regulator said.
Clients of PM Law who previously spoke to the BBC said they had been in the middle of buying or selling a home, were facing the risk of collapsed moves, or losing their deposits due to the firm’s sudden closure.
Staff were also left devastated, discovering they’d misplaced their jobs by way of a discover posted within the home windows of the corporate’s premises.
Further particulars on how purchasers are being supported can be found on the SRA’s website, external.
Report Fraud, a nationwide service run by City of London Police, previously said it was aware of the fraud allegations involving PM Law.
A Report Fraud spokesperson said at the time it had “obtained studies in connection to those allegations” and was liaising with the SRA.
