Lender who added millions to accounting records banned
Lender banned for 11 years after adding more than £12 million in false entries to company records to conceal true amount of money loaned to clients.
From:
29 January 2021
Liam Francis Wainwright (58), from Leeds, was a director of Rawdon Asset Finance Limited. The company was incorporated in 2009 and provided finance to small and medium businesses unable to secure funding.
On numerous occasions, however, Liam Wainwright allowed customers to borrow sums in excess of the security they had provided Rawdon Asset Finance.
This practice exposed the company to substantial financial risk and in May 2019, Rawdon Asset Finance entered into administration before an investigation was launched by the Insolvency Service into Liam Wainwright’s conduct.