WELL-KNOWN Adelaide lawyer Stephen McNamara has been charged by police with theft in connection with almost $500,000 missing from his firm’s trust account.

Detectives arrested Mr McNamara, 59, shortly after he left the Supreme Court on Thursday morning in connection with a civil appeal involving the appointing of a Law Society manager to his firm Commercial & General Law.

A search warrant was executed on Commercial & General Law’s Pirie St premises on Wednesday afternoon when computers and documents were seized.

His arrest by detectives from the Commercial and Electronic Crime Branch follows a lengthy investigation launched after Legal Profession Conduct Commissioner Greg May alerted the Crown Solicitor about “information or evidence suggesting to me that the practitioner may have committed a criminal offence.’’

After being interviewed for several hours, Mr McNamara was formally charged with six counts of theft. He was granted police bail to appear in the Adelaide Magistrates Court in May.

The Law Society and LPCC launched investigations into Mr McNamara’s conduct last April after receiving several complaints from the beneficiaries of an estate being managed by Commercial & General Law.

The Advertiser revealed details of the investigations into Mr McNamara earlier this month and on Monday disclosed he had been hit with dozens of disciplinary charges.

The disciplinary charges, laid by Mr May under the Legal Practitioner’s Act, include multiple counts of misappropriation of trust money, misuse of trust money and making false and misleading statements to investigators.

The charge documents detail numerous instances in which Mr McNamara has allegedly used moneys belonging to the estates of deceased persons his firm, Commercial & General Law (SA) Pty Ltd, was acting for. The money was allegedly used for purposes including paying his business debts and his Visa card accounts.

The charges also detail the use of moneys held in trust from one estate being allegedly used to pay the beneficiaries of another estate.

In December Mr McNamara launched Supreme Court action against both the Law Society and Mr May, seeking an injunction against moves to appoint a manager to his practice and suspend his licence.

The disciplinary charges are due back before the Supreme Court next week.