Kevin James Warland, the director of Hinckley-based car dealership Choice Vehicles Ltd has been disqualified as a director for ten*years.
On 9 June 2017 at the County Court at Coventry Judge Jonesmade a disqualification order against Mr Warland that he could not act as a director for ten years from 30 June 2017.
An Insolvency Service investigation found that the company sold five motor vehicles belonging to customers under sale or return agreements and failed to pass on the money from the sales - totaling at least ?174,450 - to the customers.
The company went into liquidation on 24 October 2014, owing an estimated ?573,502 to creditors.
Aldona O? Hara, Investigation Leader, Insolvent Investigations Midlands & West at the Insolvency Service, said:
The Insolvency Service will rigorously pursue company directors who deliberately breach the trust of customers. Fair treatment of customers and creditors is essential for business confidence which is, in turn, essential for economic growth.
This disqualification is a reminder to others tempted to do the same that the Insolvency Service will rigorously pursue enforcement action to seek and remove from them the privilege of trading with limited liability to protect the public for a lengthy period.