Directors disqualified for ‘fresh air’ invoicing

The Insolvency Service has disqualified two directors of a company for a total of 17 years after they submitted falsely inflated invoices to a factoring company.

William and Fiona Lloyd will not be able to manage or in any way control a company, or be a director for 12 years and five years respectively.

The company, White Dot Box Holdings, had a contract with the internet search provider to promote their service among their clients. In July 2009 the provider withdrew most of their business, resulting in a reduction in turnover, at which point the company started to experience financial difficulties.

Continued...

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Comments

this is just old fashioned

brownbuchanan | | Permalink

this is just old fashioned fraud.so is billing for non existent advertising and all those other old scams

gosh a pat on the back for the insolvency service[they need them].a good plod could have wrapped this up in a few hours.i wonder how much this cost?notwithstanding a job well done

 

Fraud is a criminal offence

The Rogue | | Permalink

The article doesn't say if the Police are involved.  If not, they should be.  An internet search doesn't give any more information.  I found some interesting information on the directors, though, which would make me recommend to my Directors that we don't sell to them.

Generally I am quite cynical about the Insolvency Practitioners actually investigating these things because there is no benefit in terms of recovering assets for the creditors or to pay their own bills.  I'm glad to see this from that point of view but I agree that it was probably pretty straight forward.

Tom 7000's picture

Fresh air

Tom 7000 | | Permalink

I wonder if I can sell fresh air....

 

One cubic meter of  fresh air for sale, currently located outside of geneva, £230 Buyer collects...

Ten cubic meters of a high humidity air £150 located Tioman island Malaysia ( no offers)

50 cm3 of Uk central london air located just outside gates of buckingham palace, rumoured to have been breathed by the queen, but we cannot confirm this consequently  £830  o.n.o

Each volume of air comes with its own certificate of ownership.

I think this time next year Ill be a millionaire...I wonder if I can copyright it or trademark it or patent it or something....

 

yes, its not very busy today

 

 

 

 

 

Insufficient information provided

SimonP | | Permalink

Does the author not know who the factoring company is?

And no jail time for fraud?

too late rodney    1 thanks

sjt303 | | Permalink

It is old hat is'nt it

philfromleeds | | Permalink

40 odd years ago when email was not even a dream My uncle did time (6 months) for this offence. He was actually innocent. The assignment notes were pre-signed by him whilst he travelled abroad selling combat jackets and army boots. His partners did the fraud and went back to where they came from and were never heard from again.

Now I wrote to Linda L plant about a different fraud that I came across and she never wrote back for the details. I wanted some money for the storey line so here it is.

There was a Guy who owned a Jewellery Business and expanded. They were loosing a fortune. So they ordered lots of stock and sold it for scrap. We are talking about £750,000 worth of the stuff. The money they got for the scrap they introduced as Sales and then staged a fake robbery to account for the stock shortages.

This happened before I joined them as a bookkeeper. I left before I knew if they were successful with the insurance claim.

There was a lot more content to the storey so if any of you can write a book lets join forces.

Ofcourse names and locations must be ficticuous.

 

 

Steve-EBL's picture

Boring Novel

Steve-EBL | | Permalink

philfromleeds wrote:

We are talking about £750,000 worth of the stuff.

 

Its pretty boring for Linda La Plant?  Seems run of the mill attempt at fraud to me?

 

 

Steve-EBL's picture

Consequence?

Steve-EBL | | Permalink

 

 

Does this sanction even work?  He had not set himself up as a Director and now he cannot even if he wanted to.  So if he works again in a senior role (akin to a director) and someone reports him what is the consequence?  

JAADAMS's picture

Few days late...

JAADAMS | | Permalink

Sorry... I've only just read Rob's article... but would like to direct readers to an article I wrote about four months ago on the subject of 'Directors Disqualification'. In that article I wrote:

IS statistics show a total of 166 convictions in 2011 for a range of offences relating to corporate and individual insolvencies .... 

'http://www.accountingweb.co.uk/article/director-disqualification-what-you-need-know/527281 

...not many....but IS do appear to be looking to prosecute for breaches of orders. See the last two paragraphs of the May article which also answers Steve-EBL's questions.