The director of motorbike insurance comparison website Bike Insurer Services Ltd has been disqualified from acting as a director of a limited company for eight years.
Alexis John Stone was banned following an investigation by the Insolvency Service that found he had paid himself or his American company ahead of other creditors.
Robert Clarke, head of company investigations, Birmingham said: “Directors who decide to put themselves or their other companies ahead of creditors when they know that the company is about to fail show a total disregard for creditors and the business community as a whole.”
Stone put Biker Insurer Services Ltd into voluntary liquidation in August 2011, previously converting company assets into cash totalling £150,000.
The funds were transferred to Stone’s American company, including £100,000 paid on the morning the company went into liquidation and the balance paid a few days later.
By the time of liquidation, the company had debts of at least £281,569.
Between 27 May 2011 and 29 July 2011 Stone removed over £500,000 from the company accounts, which resulted in it being unable to pay all its debts.
Stone, 39, has given an undertaking that he will not act as a director of a limited company from 9 May 2013 until May 2021.