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Company director disqualified for eight years for failing to keep proper accounts (12 October 2015)

Date: 12/10/2015
Duncan Lewis, Crime Solicitors, Company director disqualified for eight years for failing to keep proper accounts

The director of a Cardiff computer supply company which went into liquidation owing £492,790 to creditors has been disqualified from acting as a director for eight years, after failing to keep proper accounting records.

Mohamed Inam Anwar 52, of Cardiff, was the director of Land of Computers Ltd from April 2011 to March 2013, when the company went into liquidation.

Land of Computers Ltd was incorporated on 27 October 2003 and traded from 103 City Road in Cardiff.

An investigation by the Insolvency Service found Mr Anwar had not produced adequate company accounting records.

Without these, there was no way to verify that £47,600 withdrawn in cash, £164,348 in cheques and £53,480 in transfers out of the business bank account were for legitimate business uses.

Investigators could also not verify why £90,975 was paid for machinery delivered to Pakistan – or establish what had happened to money from cash sales between September 2012 and March 2013, the date the company went into liquidation.

On 25 August 2015, at Cardiff County Court, District Judge Hywel James made an Order for eight years against Mr Anwar, which bans him from acting as a company director or managing or in any way controlling a limited company from 15 September 2015 until 2023.

Chief Investigator of Insolvent Investigations, Midlands & West at the Insolvency Service, Sue MacLeod, said:

“Every director has a duty to ensure adequate records are kept of business transactions – and we discovered a lack of transparency in what went on in Land of Computers Limited.

“As a consequence of the convincing evidence we presented to the judge, Mr Anwar has been banned from being a director for eight years. This means he cannot continue in business, other than at his own risk.”

A disqualification order has the effect that, without specific permission of a court, a person with a disqualification cannot act as a director of a company, or take part – directly or indirectly – in the promotion, formation or management of a company or limited liability partnership.

Those disqualified are also unable to be a receiver of a company’s property – and in addition, they are not bale to act as an insolvency practitioner, among other restrictions.

The Insolvency Service administers the insolvency regime and investigates all compulsory liquidations and individual insolvencies – bankruptcies – through the Official Receiver, to establish why they became insolvent.
Duncan Lewis Business Crime Lawyers
Duncan Lewis business crime lawyers can advise at any stage of a charge involving false accounting, financial fraud, company fraud, or white collar crime, including advising at the start of an investigation or before charges are brought.

There are Duncan Lewis offices nationwide and a criminal defence lawyer can usually be at a police station for interview under caution in under an hour.

Duncan Lewis business crime lawyers are also available to attend interviews with investigating authorities such as the Insolvency Service, SFO, FCA, HMRC and City of London Police.

For expert legal advice on all business crime charges, contact Duncan Lewis business crime lawyers on 020 7923 4020.

For 24/7 help at a police station, call the Duncan Lewis Emergency Hotline on 020 7275 2036.


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