Logistics And Frieght Forwarding

Malcolm Thorpe, MD of Grimsby-based CTL European, disqualified from being a director

A haulage boss who raised hundreds of false invoices worth almost ?125,000 to a factoring company has been disqualified for seven years following an investigation. Malcolm Thorpe, MD of Grimsby-based CTL European, cannot act as a director or manage a company until 2023 after an audit by Skipton Business Finance[1] (SBF) in September 2014 uncovered “a number of discrepancies on invoices”. It also found the haulier was ?46,000 in arrears to HMRC.

SBF instructed Leonard Curtis[2] to take control of the company’s affairs and it entered administration the following month with an estimated deficiency of ?177,551. According to the Insolvency Service (IS), Thorpe raised 326 false or duplicate invoices over two separate periods. These were submitted to CTL’s factoring company and caused losses of at least ?124,670.

The IS said Thorpe did not dispute that he had failed to take adequate action or follow company procedure, which resulted in CTL obtaining funds from a factoring company to which it was not entitled.

IS chief investigator Robert Clarke said: “Using false documents is contrary to the conduct expected of a company director.

“The IS has strong enforcement powers that it will not hesitate to use to remove dishonest or reckless directors from operating a business in an environment with the benefit of limited liability.”

References

  1. ^ Skipton Business Finance (www.skiptonbusinessfinance.co.uk)
  2. ^ Leonard Curtis (www.leonardcurtis.co.uk)



Leave a Reply

Your email address will not be published. Required fields are marked *

*