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

Chris Tindall
October 14, 2016

 

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 (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 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.” 

About the Author

Chris Tindall

Chris Tindall started writing for the haulage and logistics industry in 2002 and quickly realised there was enough going on to keep him busy for a very long time. He’s covered a broad range of significant issues, including GPS jamming by criminals, platooning, Brexit and the impact of the Covid-19 pandemic, the lack of safe and secure lorry parks and he helped secure the release of a lorry driver in a Polish jail due to misuse of the European Arrest Warrant.

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