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Insolvency Service closes £4.5m credit scam 22 June 2015

A company that ran a £4.5m scam by fraudulently obtaining credit to provide text message services has been forced out of business.

Mosellic, a company which bought text messaging services in the form of bandwidth capacity, was ordered into liquidation by the high court on April 15.

The liquidation followed an investigation by the Insolvency Service’s Company Investigations unit.

The Yorkshire-based company claimed to be a multi-million pound business and its former website claimed to provide a suite of IT and telecoms solutions.

These included direct inward dial (DID) services in 45 countries and a reselling platform that offered white label solutions for voice over internet protocol (VOIP) termination, VOIP origination and other services.

It claimed that organisations with a high volume of voice traffic such as call centres, retail stores, dealers and charities could benefit from its services.

But together with three connected companies also wound up in the public interest, Mosellic falsified accounts to obtain credit fraudulently.
The connected companies were Global Revolution, Habi Solutions and SRW VOIP, whose accounts and those of Mosellic purported to show combined sales of nearly £9.4m.

The investigation uncovered they were a network of at least 19 companies all formed for short term fraud, with reported combined ‘sales’ of almost £109m.

Among these was Asquith & Wright, which had hi-jacked the details of a business of the same name and was earlier ordered into liquidation. Ten of the companies had applied for credit, with some 350 credit searches overall recorded against them.

Chris Mayhew, company investigations supervisor at the Insolvency Service, said: “Within 72 hours of discovering that Mosellic had improperly obtained $7m of bandwidth for text messaging on credit from a global provider of technology services, a liquidator was appointed to shut down Mosellic’s unscrupulous activities.

“The swift action shows that the Insolvency Service will not allow companies to operate in this way and will investigate abuses and close down companies.”

The recorded directors at the firm were Richard Charge and Louise Charge from the date of its incorporation to the present date. Andrew Mayne was also a director from June 11 2014 to March 5 2015.

The petition to wind up Mosellic was presented in the high court on March 2 this year. Shortly afterwards, on April 7, the company changed its name to Nomtorea Design.

In ordering all four companies connected with the case into liquidation on April 15, Mr Registrar Baister said: “The fraud, taking a common form, (was) namely that the company sets itself up, puts in false accounts, seeks to establish some sort of trading record through the false accounts and then goes on to raise credit as a result of that.”

By Marcel LeGouais



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