A lawyer who took almost $3 million from his clients has agreed to be struck off from practising.
John Milne has admitted to professional misconduct charges brought by the Otago Standards Committee and appeared before a Lawyers and Conveyancers Disciplinary Tribunal in Christchurch on Tuesday.
Committee lawyer Gerald Nation told the tribunal that Mr Milne borrowed about $2.9 million from his clients for himself and did not invest it for any of their benefit.
Mr Nation said the scale of fraud Mr Milne committed over a long period of time showed he is not a fit and proper person to be a lawyer.
Mr Milne remains under investigation by the Serious Fraud Office.