Warning: Documentation misusing the name and logo of Equitable Law Limited
30 June 2022
Documents have been sent misusing the name and logo of 'Equitable Law', relating to a supposedly risk-free online trading account.
What is the scam?
Members of the public have received supposed contractual documents that misuse the name and logo of Equitable Law Limited (see below for details of the genuine firm). The SRA has been informed that members of the public have been approached to purchase or fund a 'risk-free' insurance policy or trading account, after previously being persuaded to exchange normal currency (e.g. pounds or dollars) for crypto-currency tokens of no obvious value. It is believed the additional 'risk-free' option may be an attempt to improperly illicit further funds from the individuals being approached.
The document seen by the SRA, titled 'Contract Insurance Proposal Form' misuses the name and logo of 'Equitable Law' (see below). The document seems to propose that the recipient allow a company to trade with funds for a limited period, with the company supposedly keeping only 6 per cent of any profit while guaranteeing any losses for the customer. We have been informed that various similar documents are in circulation that misuse the name and logo of the genuine firm, but that appear to involve different unregulated 'crypto broker' style companies.
Is there a genuine firm or person?
The SRA authorises and regulates a genuine firm called Equitable Law Limited, which trades as Equitable Law. Its head office is at The Private Office, 24 Bemish Road, London, SW15 1DG and its website is www.equitablelaw.com. The genuine firm has confirmed it has no connection to the documentation referred to in the above alert.
What should I do?
When a firm's or individual's identity has been copied exactly (or cloned), due diligence is necessary. If you receive correspondence claiming to be from the above firm(s) or individual(s), or information of a similar nature to that described, you should conduct your own due diligence by checking the authenticity of the correspondence by contacting the law firm directly by reliable and established means. You can contact the SRA to find out if individuals or firms are regulated and authorised by the SRA and verify an individual's or firm's practising details. Other verification methods, such as checking public records (e.g. telephone directories and company records) may be required in other circumstances.