Charity scam firms wound up

TWO Greater Manchester companies have been wound up after scamming £300,000 out of small businesses.

The Insolvency Service said Magnify Media and Sabretooth Media, both trading from an address in Oldham, solicited magazine advertising money from firms that believed they were contributing to good causes.

A probe by the Insolvency Service’s Companies Investigation Branch found no evidence to suggest publications had been produced or that any cash had been donated to charity.

The Insolvency Service said: “The accounting records recovered were wholly inadequate for the purpose of explaining the income and expenditure of the companies but did show that they formed part of a wider network engaged in similarly disreputable activities.”

Both companies had been abandoned after receiving payments worth £300,000.