Private transport hire director disqualified for seven years, for, among other things, failing to ensure the company maintained adequate accounting*records.
Gheorghe Betianu, gave a disqualification undertaking to the Secretary of State for Business, Energy and Industrial Strategy on 12 October 2017, which, prevents him from managing or controlling a company without leave of the court from 14 November 2017 until November 2024.
Mr Betianu, a former Olympic boxer, was the sole appointed director of Riverside Group (London) Ltd (RGLL) from 1995 to the date of creditors? voluntary liquidation on 2016. He was also the company?s sole shareholder.
RGLL traded under the name of Media Cars and provided taxi services in the London area and private ambulance transportation to various London hospitals.
An Insolvency Service investigation found that Mr Betianu failed to ensure that RGLL maintained adequate accounting records and caused RGLL to trade to the detriment of HM Revenue and Customs (HMRC). At liquidation HMRC were owed at least ?343,664 for PAYE/NIC and VAT.
Aldona O?Hara, Investigation Leader, Insolvent Investigations Midlands & West at the Insolvency Service, said:
Directors have a duty to ensure that their companies maintain proper accounting records, and, following insolvency, deliver them to the office-holder in the interests of fairness and transparency.
Without a full account of transactions it is impossible to determine whether a director has discharged his duties properly, or is using a lack of documentation as a cloak for impropriety.
In addition, directors who fail to ensure that HMRC are treated on an equal basis with other classes of creditor gain an unfair advantage over those companies who pay their taxes correctly and on time. They can expect to be investigated by the Insolvency Service and enforcement action taken to remove them from the market place.