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Nice little earner
welshgasman
Posts: 314 Forumite
One of the many Swansea CMC firms, this one went bust, but not after raking in a lot of money.
No prison sentence it appears, just a disqualification from being a director for a while.
With all that money, I doubt they would need to work again anyway.
http://www.bbc.co.uk/news/uk-wales-south-west-wales-33096107
No prison sentence it appears, just a disqualification from being a director for a while.
With all that money, I doubt they would need to work again anyway.
http://www.bbc.co.uk/news/uk-wales-south-west-wales-33096107
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Comments
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Another one with up front fees going bust. It seems to be the business plan for CMCs with up front fees. Company make millions charging up front fees, directors take the money out earning millions themselves, company goes bust leaving consumer with nothing. Directors may get banned (most dont) but they would still have made millions and in their next company venture, they get a family member to be the director.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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