Crime Solicitors

The Insolvency Service has published official statistics detailing enforcement outcomes achieved in the year to March 2016 – revealing that more than 1,200 company directors were disqualified and 131 companies were wound up in the public interest in 2015-2016.

The cause of company failure is examined in every insolvency case – and the Insolvency Service can seek to disqualify directors for between two and 15 years where an investigation finds unfit behaviour.

The services uses powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK – and companies found to be acting against the public interest are likely to be wound up.

An Official Receiver can also seek to have the restrictions of bankruptcy extended for between two and 15 years, if it is considered that the conduct of a bankrupt has been dishonest or blameworthy.

Recent director disqualifications include a total of 47 directors being disqualified for a total of 290 years in 2015-16 for employing illegal workers –
the director of an investment company was also disqualified for 14 years in March for mis-selling half-a-million pounds of worthless Rare Earth Metals as investments to members of the public.

The figures also show two directors were disqualified in February for 15 years each for selling worthless Voluntary Emission Reductions – a type of carbon credit – to the public at between two and six-and-a-half times the price paid to the supplier.

Companies wound up in the public interest included two companies, via their agents, which misled nearly 100 small businesses into each paying between £495 and £2,500 for services to challenge business rate valuations – none was revalued.

Another company made false and misleading claims in persuading the elderly and vulnerable to purchase grossly overpriced and unnecessary health supplements – and a small London clothing company fabricated information enabling it to obtain significant credit, which it could not repay.

The company had falsely claimed it produced clothing for various major films and for the opening and closing ceremonies of the Olympics.

Bankrupts recently restricted included a bankrupt previously the subject of an 11-year Bankruptcy Restrictions Order (BRO), who was given a 12-year bankruptcy restriction order in February for repeated non-disclosure of assets – and a failure to comply with livestock and supply of labour regulations.

Duncan Lewis Business Crime Solicitors

Duncan Lewis business crime solicitors can advise at any stage of a charge involving business crimes such as false accounting, financial fraud, company fraud, tax and VAT evasion, bribery and corruption, embezzlement, failing to keep accurate records and white collar crime.

There are Duncan Lewis offices nationwide and more than twenty offices across London and the southeast. A Duncan Lewis business crime solicitor can attend interviews under caution with SFO, FCA, HMRC, Insolvency Service, BIS and City of London Police, as well as advising before charges are brought.

For expert legal advice on business crime or economic crime, call Duncan Lewis business crime solicitors on 0333 772 0409.

For 24/7 help at a police station, call the Duncan Lewis Solicitors 24-Hour Emergency Helpline on 0333 772 0607.