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30-year sentence for solar panel fraudsters

Six men have been sentenced for a total of just over 30 years for their part in a ?17 million solar panel fraud scheme. Stephen Wilson, Robert Ross, Niall Hastie and Kenneth Reid, as well as brothers David Diaz and Ludovic Black, appeared at Liverp...

£4 million of false invoices lands financing boss 10-year ban

Boss of a financing company receives ten year ban after heading false invoice scheme to secure ?4 million of illegitimate funds. David Andrew Marsden (62), from Exeter, was the director of finance company First Capital Factors Limited (FCF). Incorp...

Security systems boss jailed for defrauding creditors

Director of a company that manufactured security systems receives a two year prison sentence for defrauding his creditors to the tune of ?600,000. Peter Druzyc appeared at Coventry Crown Court on Monday 1 October after he was found guilty of two co...

Pension bosses banned for 34 years after abusing members’ funds

Four directors of companies that formed part of a group involved in the transfer of millions of pounds of pensions have been banned for a total of 34 years. Karl Dunlop, Stuart Grehan and Ian Dunsford previously accepted disqualification undertakin...

Poor record keeping lands East Lothian boss with directorship ban

Director of an Edinburgh-based consultancy has been banned for 7-years after he failed to maintain adequate records and explain what happened to the company. Paul Gilhooley (48) from Tranent, East Lothian, was the sole director of Paul Gilhooley Co...

Ban for payroll company boss who failed to keep proper records

The director of a payroll processing company has been disqualified for 7 years after failing to ensure the company kept proper books and records. On 4 January 2016 John Thomas Hanbury was appointed a director of Crownsbury Limited, before the compa...

Waste boss banned for failing to explain £500k of cash withdrawals and bank transfers

Former waste disposal boss has been disqualified for 7 years after failing to deliver company records that may have explained ?500,000 worth of suspicious bank transfers and cash withdrawals. Lee Smith (42) appeared at Liverpool Court on Thursday 2...

Investigation shuts down ‘emergency services’ book publisher

A book publisher has been shut down by the High Court for falsely claiming to be connected with the emergency services. MP (NW) Limited (MPNW) was incorporated in September 2015. Its business was listed as ?other publishing activities?, with a regi...

Restaurateur jailed for running companies while disqualified

A restaurateur with eateries in London?s West End has been jailed for 14 months after he continued to run companies despite previous ban.

Following a joint investigation by the Insolvency Service and the Metropolitan Police, Sarkis Agop Kouyoumdjian (55), of Kensington High Street, West London, appeared at Southwark Crown Court on Friday 14 September where he also received a nine year directorship disqualification.

The court heard that in November 2011, Sarkis Kouyoumdjian voluntarily accepted a disqualification undertaking in connection with the failure of a company that he was a director of which ran a restaurant and owed unpaid taxes. The disqualification meant that he was banned from running companies for four years without the permission of the courts.

However, Sarkis Kouyoumdjian ignored the ban which he had personally accepted and in direct contravention of his disqualification, between November 2011 and May 2014 continued to run two branches of Middle-Eastern restaurant, Massis, as well as Asian fusion restaurant, Cocochan.

In addition to running the restaurants and their connected companies without permission from the courts, Sarkis Kouyoumdjian carried out other offences.
Sarkis Kouyoumdjian ran the restaurants through two companies, Live London Limited and Plaha Catering & Events Limited, but use of the restaurants? names had been banned through earlier insolvencies and Sarkis Kouyoumdjian?s connection with them.

He fraudulently transferred ?59,000 to an associate from a company that he shouldn?t have been running shortly before it entered into Creditors Voluntary Liquidation and also failed to deliver to the liquidator all the files that were needed to help formally shut down the company.

And between 2012 and 2013 Sarkis Kouyoumdjian operated a property company, Tamarix Properties Limited.

The property company bought a number of flats in West London from another insolvent company connected to Sarkis Kouyoumdjian, using money from one of the restaurants he shouldn?t have been running. Sarkis Kouyoumdjian also used money from Tamarix Properties to benefit one of the companies connected to the restaurants.

On 5 September at Southwark Crown Court, Sarkis Kouyoumdjian pleaded guilty to four counts of running companies while disqualified, two counts of using a prohibited company name, as well as one count of fraudulently removing property in anticipation of the commencement of the winding up of a company and another count of failing to deliver up books and records to a liquidator.

Ian West, Deputy Chief Investigation Officer of the Insolvency Service, said:

Sarkis Kouyoumdjian knew exactly what he?d signed up for when he accepted his four-year disqualification but he brazenly ignored its restrictions and continued running restaurants and a property company.

This was a flagrant abuse of company and insolvency law and thanks to the joint investigation with the Metropolitan Police, Sarkis Kouyoumdjian?s sentence should serve as a warning to others that such abuses will be investigated and disqualifications will be enforced.

Detective Inspector Andy Brien of the Metropolitan Police Service said:

This is a prime example of how the Metropolitan Police working together with agencies such as the Insolvency Service can bring offenders to justice. Sarkis Kouyoumdjian showed a complete disregard for the law using companies to build personal gain.

Health supplement company closed for taking advantage of customers

Healthcare supplement company ordered into liquidation in the High Court after it was found to have taken advantage of elderly and vulnerable customers. Vivid Lifestyle Ltd (Vivid) was incorporated in July 2013 and its? registered office was in Hou...

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