Boss who gambled away more than £100K jailed
THE director of a vehicle hire company has been jailed for six months after gambling the proceeds of his house sale, instead of repaying creditors.
Ian Ellison, 57, had been the director of Skelmersdale-based WVH Vehicle Hire, which had gone into liquidation in July last year with debts of more than £1m.
During the life of the company, several personal guarantees were given by Ellison, and after it entered liquidation, a County Court Judgment was made in the sum of £26,500.
Shortly after this, Ellison sold his property and spent £113,642 on socialising, leisure and gambling.
The period in which he spent this money overlapped with his bankruptcy and beyond, Preston Crown Court heard.
Ellison was sentenced to immediate imprisonment at Preston Crown Court on 24 June after he pleaded guilty to one offence of Removal of Property under section 357(3) of the Insolvency Act 1986.
His conviction followed an initial investigation by the Insolvency Service and a full criminal investigation and Prosecution by the Department for Business Innovation and Skills (BIS).
Simon Button, deputy chief investigating officer for the Department for Business Innovation and Skills said: “Mr Ellison’s funds from the sale of his property should have been used to repay his creditors, not kept for his own use.”
