Grant Thornton has announced a collaboration with Asset Reality, Outer Temple Chambers, Rahman Ravelli and Sandton Capital aimed at helping victims of crypto-related fraud overcome access to justice hurdles.
It comes as while crypto-related fraud reached an all-time high in 2021, with illicit addresses up 79% on the previous year, matters brought before courts remain comparatively low, in large part due to a lack of funding options for otherwise meritorious lower-value claims.
Under the new collaboration, Asset Realty, Grant Thornton UK LLP, Outer Temple Chambers, Rahman Ravelli have established a triage system for the initial assessment of claims, with investigatory and corporate intelligence expertise then deployed to contextualise claims for legal assessment.
Justina Stewart, barrister at Outer Temple Chambers, said: “This is a real opportunity to push the boundaries of the law by working symbiotically with true experts, for the benefit of those who have been defrauded by increasingly sophisticated crypto frauds.
“All too often, potentially meritorious crypto fraud claims don’t get off the ground because of lack of funding and joined-up thinking between real specialists. Having been involved for years in and being at the forefront of the fascinating world of crypto-related litigation, our Outer Temple counsel are thrilled to be involved in this collaboration.”
Carmel King, director at Grant Thornton, insolvency and asset recovery, added: “Our team has used (and provided) litigation funding for years, and we know it can facilitate access to justice for impecunious estates and their creditors.
“I am delighted that this collaboration widens the range of options available to victims of fraud in the investigation, litigation and recovery of their crypto assets.”