RegulationSep 15 2016

Investment scam director disqualified by High Court

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Investment scam director disqualified by High Court
ByKatherine Denham

In December 2012, more than £1m was transferred from the company’s bank account in a single day.

Mr Hamilton told the specialist unit at the Insolvency Service the money was being held by a connected company in Dubai, but he failed to provide any information to support his version of events, or to cooperate in any way with the official receiver or the liquidator.

Tony Hanon, official receiver for the public interest unit at the Insolvency Service, said: “The company persuaded members of the public to part with substantial sums by falsely promising investors extremely high rates of return.

“In reality, the scheme operated only for the benefit of those running the company, principally the director, Ian Hamilton.

“As is so often the case, if an investment scheme appears too good to be true, it probably is.”