Christopher Demetriou, the director of C D Consultancy (UK) Limited, set up to trade as a management consultancy business, has been disqualified from acting as director for 10 years.
The disqualification, which started on 28 February, follows an investigation by The Insolvency Services Company Investigations Team.
The investigation found that Christopher Demetriou,:
* facilitated another companys operation of an unauthorised collective investment scheme,
* submitted false accounts to Companies House; and
* failed to maintain books and records that account for the money passing through the company bank account.
Mr Demetriou,30, has given an undertaking to the Secretary of State for Business, Innovation and Skills, which prevents him from managing or controlling a company without leave of the court for the disqualification period.
The investigation showed that between 20 November 2008 and 28 September 2010 5,866,631 passed through the companys bank account. No records were given to the liquidator, as required by law, to explain the transactions in the account.
Despite the money received by the company, dormant accounts were submitted to Companies House for the periods ended 31 March 2009 and 31 March 2010.
C D Consultancy (UK) Limited went into voluntary liquidation in April 2011.
Commenting on the disqualifications, Mark Bruce, a Chief Examiner at The Insolvency Service said:
Company law requires that directors of companies must maintain sufficient accounting records that show and explain the companys transactions and publish true financial information at Companies House.
This director failed to do either and the volume of unexplained transactions over its trading lifetime was highly suspicious.
The Insolvency Service will take action against directors who fail to meet these obligations.