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.”