A manager of two firms has been sentenced to 20 months in prison and banned as a director following an investigation by the Department for Business Innovation and Skills (BIS).
Phillip Henry Martin, 42, acted in the management and formation of Multiguard Solutions UK Ltd, based in Flat 30 Auburn House, Leicester, and Premiere Building and Construction Ltd whilst an undischarged bankrupt.
The investigation also found that around £108,000 was removed from the company account at Multiguard Solutions UK Ltd and paid into another account controlled by Martin, of which £55,000 was used for his personal expenditure.
The offence was committed before and after the winding up proceedings of Multiguard Solutions UK Ltd in May 2012.
In his verdict at Amersham Crown Court, His Honour Judge Sheridan QC stated: “Mr Martin’s conduct was exactly the type of conduct the legislation was designed to prevent.”
The judge also said Martin went to great lengths to hide his identity from the vendors of Multiguard Solutions UK Ltd which involved the use of a patsy director who he funded to stay in Thailand, and out of reach of the official receiver.
Glenn Wicks, Deputy Chief Investigation Officer from BIS added: “This man was a bankrupt, meaning he should not have been controlling a company.
“He ripped off a lot of people and destroyed the company.
“The courts will clearly consider imprisonment for these very serious offences as he has discovered.”
Martin pleaded guilty to acting in the management and formation of two companies whilst an undischarged bankrupt and to fraudulently removing £54,000 from one of those companies.
He received a seven-and-a-half year ban from being a director of a limited company.
Leave a comment