THE Law Society plans to take legal action against rogue solicitor Michael Lynn over €4.5m it claims it is owed for compensating his victims.
Director general Ken Murphy said it was considering pursuing Mr Lynn to Brazil, where he is living, and suing him to recover the money.
And he said it was "inexplicable" that the solicitor had yet to be charged with any criminal offence more than five years after his activities were detected.
Mr Lynn fled the country in December 2007, owing more than €80m to investors and financial institutions. He is believed to be facing up to 50 charges relating to mortgage fraud, but cannot be extradited.
"The timeline is very clear," said Mr Murphy. "His activities were detected by the Law Society in late September 2007, reported to the gardai in October and he was struck off in May 2008.
"In December 2007 he disappeared. We've pressed the gardai on the extraordinary length of time this investigation has been ongoing.
"If there is no basis for criminal charges the investigation should be concluded, but that would be surprising given our knowledge of his activities.
"We understand that white collar crimes are complex, but it still seems that five years is an inordinate amount of time for an investigation to be still ongoing."