A hearing date and venue is expected to be announced shortly by the New Zealand Law Society over multiple misconduct charges being faced by former Dunedin lawyer John Milne.
Mr Milne, who declared himself bankrupt in November and does not have a practising certificate any longer, separately remains under investigation by the Serious Fraud Office, which does not comment on investigations until they are concluded.
It is unknown if charges were to be laid by the SFO whether they would take precedence over the present misconduct charges.
Mr Milne faces four charges before the New Zealand Lawyers and Conveyancers Disciplinary Tribunal, alleging professional misconduct relating to receiving and dealing with clients' funds amounting to $2.76 million.
Convener of the standards committee of the Otago branch of the Law Society David More said, when contacted yesterday, Mr Milne had been served with the four charges, and had subsequently responded.
Mr More said prosecution and defence lawyers had been in discussions recently and he understood the disciplinary tribunal would ''release a decision shortly'' on the hearing date and venue.
The Otago branch had requested Mr Milne face the allegations in Dunedin, Mr More said.
Public documents collated on Mr Milne's bankruptcy showed estimated claims stood at $2,960,224, with estimates $137,497 was owed to banks and sundry creditors, while the balance of $2,768,727 were funds given to Mr Milne by clients, over many years.
There were understood to be 38 claimants in all; the three largest sums involved were $964,000, $315,000 and $240,000.
The Law Society's prosecutor understood the tribunal would not be making any ruling on compensation.
It appears the key to any compensation claim is whether the clients lent money to Mr Milne, or whether they were expecting returns on an investment. Dunedin solicitor Alistair Paterson opened a register for affected investors, which could look at issues surrounding the clients' legal rights and any possibility of compensation.
