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Lender Given 11-Year Ban For £13M False Accounting Entries
Law360, London (January 29, 2021, 12:58 PM GMT) A lender who submitted false accounting records totaling £12.7 million ($17.4 million) to conceal financial risks when he allowed customers to borrow more than they could afford has been banned from acting as a director for 11 years.
The Business Secretary accepted a disqualification undertaking from Liam Wainwright on Oct. 21, the Insolvency Service, a government agency, said on Friday. Wainwright did not dispute accusations that he made false entries totaling £12.7 million in the loan book of Rawdon Asset Finance Ltd. He was the sole director.
The 11-year ban came into effect on Nov. 11, the Insolvency Service said..