This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

Fugitive director banned for 11 years 7 August 2013

A director who duped creditors with false invoices before fleeing the country has been disqualified for 11 years, following an investigation by The Insolvency Service.

Engin Yersilirmak was disqualified by Canterbury Crown Court, and is now prevented from directly or indirectly becoming involved in the promotion, formation or management of a company until 10 July 2024.

David Brooks, chief investigator at The Insolvency Service, said: “Other directors tempted to follow this path should get the message.

“If you run a business in a cavalier or dishonest fashion, The Insolvency Service will investigate what happened, trace your current whereabouts, and remove you from the business environment.”

The court heard Yersilirmak made “false representations” to a factoring company inducing it to advance funds, failing to register for and account for VAT, and failing to preserve accounting records.

He caused Star Forwarding UK Ltd to factor false, duplicate and contra-ed invoices totalling at least £131,307, inducing the advance of monies totalling at least £65,560 without being adequately secured.

The factoring provider became suspicious and arranged an audit of the company records. Records were cleared from the trading premises the weekend before the audit was due to take place and Yesilirmak then absconded to Turkey.

The court also heard Yesilirmak had previously caused the company to invoice customers using the VAT number of a company placed into administration on 4 February 2010.

As a consequence, Star Forwarding UK Ltd charged customers a false sales premium of at least £83,928.

 

 

blog comments powered by Disqus