8 Marsden Business Park
James Nicolson Link
Clifton Moor
York, YO30 4WX
01904 69 16 16

Search News


Company director imprisoned

Source: HM Government | | 10/10/2018

A director of a company that manufactured security systems has been found guilty of two counts of fraudulent trading and one count of fraudulently removing property in anticipation of winding up. He was sentenced to two years in prison after defrauding his creditors to the tune of £600,000. The man has also been banned from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company under an eight year directorship disqualification.

Between 2009 and 2011 the company in question began having financial difficulties and was later placed into administration before being liquidated in August 2013. Investigators from the Insolvency Service looked into the conduct of the company’s sole director and found that he was fully aware the company was performing poorly and could not meet its liabilities. However, he continued to conduct business and avoided paying his creditors.

Glenn Wicks, lead investigating officer for the Insolvency Service, said:

'This man systematically ripped off two companies with no intention of paying either his creditors or his tax liabilities and took every opportunity to dishonestly maximise his income and personal finances prior to his company's liquidation. The courts have shown that they will always consider imprisonment for this type of offence and we are pleased with the final result.'



Latest News

ICO issues notices of intention to fine BA and Marriott
17/07/2019 - More...
Following an extensive investigation, the Information Commissioner’s Office (ICO) has announced that it has issued

Reminder to sign up for Making Tax Digital before August
16/07/2019 - More...
VAT registered businesses with a turnover above the VAT threshold, need to be ready to keep digital records for VAT

Will you have to repay Child Benefit for 2018-19?
16/07/2019 - More...
The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are

Newsletter

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

» Sign up for the Newsletter
» Login