Shadow director disqualified after diverting company’s assets
A man has been disqualified from being a company director for eight years after diverting more than £84,000 away from his struggling company to one of his associates.
The disqualification prevents him from directly or indirectly becoming involved in the promotion, formation or management of a company until 28 October 2023.
It follows an investigation by the Insolvency Service, which showed that he acted as a director of an online services business while not formally appointed, and issued two invoices that were in the company name but included the bank details of an associated company’s agent.
His actions meant creditors were deprived of £84,444 when the company went into administration on 3 April 2012.
Martin Gitner, Senior Investigator at the Insolvency Service, said: “Company directors should note that the misconduct which can be considered for proceedings under The Company Directors’ Disqualification Act 1986, and the action taken by the Insolvency Service in respect of that misconduct, is not limited to those people formally appointed as directors at Companies House.”
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