Lincolnshire MD banned over fake invoices

The managing director of a Lincolnshire haulage company has been disqualified for seven years for raising 326 false or duplicate invoices which were submitted to a factoring company and caused losses to them of at least £124,670.

Malcolm Thorpe was a director of CTL European from July 2010 to until the company ceased trading in October 2014, when it went into administration owing £177,551.

An Insolvency Service investigation found that he had failed to take adequate action or follow company procedure which resulted in CTL obtaining funds from a factoring company to which CTL was not entitled over two separate periods.

Robert Clarke, chief investigator at the Insolvency Service, said: “Using false documents is contrary to the conduct expected of a company director and the Insolvency Service has strong enforcement powers which we will not hesitate to use to remove dishonest or reckless directors from operating a business in an environment with the benefit of limited liability.”