Five senior figures at the collapsed law firm Axiom Ince have been charged with criminal offences after a 15-month investigation into the alleged misuse of more than £60m ($76m) of client money.

The five include chief executive Pragnesh Modhwadia, co-director Shyam Mistry and chief financial officer Muhammad Ali, who have been charged with two counts of fraud, the Serious Fraud Office (SFO) said.