Boss handed eight year ban after �1m book-keeping black hole
A company boss from Wapping has been handed an eight year ban from directing a company after investigators discovered a �1m black hole in its books.
Thomas James Brown’s bad book-keeping when he was director of Buckinghamshire construction firm JKS Brickwork Contractors saw the company’s creditors lose out on more than �1m when the company went into liquidation in 2010.
Following an investigation by the Insolvency Service, Mr Brown, 38, has given an undertaking to the government not to act as a company director until December 2020.
Mark Bruce, chief examiner at the Insolvency Service’s company investigations team, said: “The maintenance of a company’s financial records is a crucial responsibility for a director, especially when that company is experiencing financial difficulties.
“Directors who do not take their responsibilities seriously when dealing with records of a company must understand that they face a significant ban as the Insolvency Service are hot on their heels.”
You may also want to watch:
The �1m black hole in the firm’s books meant liquidators were left with no means of knowing which creditors were left out of pocket.
- 1 'Racist consultation' protest rejected on Tower Hamlets street closures as Labour sticks to its manifesto
- 2 Ethnic communities not taking up Covid jabs, Tower Hamlets Mayor warns
- 3 Airbnb house party violence leaves police officer with broken finger
- 4 The Queen lends her name to Royal London’s emergency Covid wards
- 5 Council fined for Alexia Walenkaki's playground death in Mile End and says sorry to family
- 6 Streets around proposed Chinese embassy building could be renamed after persecuted Muslims
- 7 Police raid cannabis factory near Liverpool Street station: 2 arrests
- 8 No injuries but 20 rescued as firefighters tackle Limehouse blaze
- 9 Police hunt after stabbing in Cable Street: One man hurt