Marshall Ronald, formerly of Lancashire firm Marshall Solicitors, recently appeared in court in connection with the 2003 theft of the Madonna of the Yarnwinder. He is understood to have entered no plea.
An SRA spokesperson said: “His firm was intervened into on the grounds of suspected dishonesty and breaches of the solicitor account rules.”
It is alleged that the £30m painting would not be returned unless £2m was deposited in a client account at Marshalls and a further £2.25m into a Swiss bank account.
Ronald appeared in court alongside two lawyers from the Glasgow office of HBJ Gateley Wareing. David Boyce, a property partner, and his former colleague Calum Jones, an insolvency partner, are understood to have pleaded not guilty to attempting to extort money.
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