equity n trusts question, legal issues to be summarised for partner in a firm, please help

[kashem25]

Victor is the chief executive of the Cash4U Bank. In 2003 he instructed
Ursula, a senior executive at the bank, to transfer �5 million of bank funds into
a newly established account entitled 'Victor Enterprises'. Ursula followed the
instructions and transferred the fund. It now appears the �5 million has been
used fraudulently by Victor, for his own purposes, in the following ways:

Victor gave Paulo, a senior civil servant, a bribe of �1million to make sure that
he secured a building development contract. Paulo spent the bribe money on
a racehorse which is now worth double the price he paid. Paulo is insolvent.

Victor gave his wife �1million, she assumed this was money he had saved by
employing a very good accountant. She spent �500,000 paying off her
mortgage. The remaining money has been spent on holidays, clothes, luxury
lifestyle and a donation of �100,000 to a local charity. Her bank balance
stands at �1million.

Victor put the rest of the money into his personal account.
Victor fraudulently took a further �7 million from prospective purchasers of
shares and placed it the same account.
Victor withdrew �2 million from the account in January 2004 and purchased
property in Australia.
In February 2004 Victor used �1million to pay a life insurance premium.
In March 2004 Victor went to a casino every evening and over the course of
the month he gambled away �2 million.

Victor died in April 2004.The beneficiaries of the life insurance policy are
Victor's two children and his wife.

[dzug]

Sounds like a homework question rather than a real problem. We usually say DIY to that sort of question.

[Reverandfunk]

Stop being lazy and do your own coursework.

[society]

maybe if you had stated it's homework and you needed help you would be more inclined to get help. but taking advantage of peoples' hospitality is a no no.