The director of a classic car dealership has been disqualified from acting as a company director for 12 years, following an investigation by The Insolvency Service.
Andrews Stansfield, director of Classic Benz Limited, was disqualified for selling cars without owners’ knowledge or consent.
Stansfield gave an undertaking to the Secretary of State for Business, Innovation and Skills that he will not manage or in any way control a company or be a director until 2025.
Claire Entwistle, lead investigator for the Insolvency Service, said: “The Insolvency Service will rigorously pursue company directors who deliberately breach the trust of customers and seek to personally gain from such action.
“Fair treatment of customers and creditors is essential for business confidence which is, in turn, essential for economic growth.”
The investigation found that between March 2010 and April 2011, when the company went into liquidation, Classic Benz had sold seven cars belonging to customers under brokerage sale agreements without the customers’ knowledge or consent, and failed to pass on proceeds from the sales of at least £129,250.
Proceeds from sale of the remaining six vehicles could not be traced as the transactions occurred during the period that the company had been struck off the Companies Register.
Stansfield also failed to maintain, preserve or deliver up adequate accounting records of Classic Benz to the appointed liquidator.
There were no details of the company’s continued trading between 27 July 2010 and 08 February 2011 when it had been struck off the Register of Companies between. It was also impossible to establish its assets and liabilities at the date of liquidation.