|Wine Traders "puppet director" disqualified for 15 years after investors lost £2 million|
|Written by Elinor Zuke|
|Thursday, 14 February 2013 11:17|
Stephen Pierre Boyd, the former director of The Wine Index, has been banned from being a director for 15 years by the High Court.
In addition, a large quantity of the company's stock was transferred to ‘Bradshaw & Karr' - a fictitious corporate entity created by Boyd. The two disqualifications will run concurrently until 2028.
Wine Traders was wound up in the public interest by the High Court on 4 March 2010 after an investigation by the insolvency service's company investigations team.
Further investigations by the insolvency service's public interest unit found that Boyd had used false names including Pierre Boyd, Steve Gordon and Dave Martin. This revealed the existence of a puppet director and to Mr Boyd being uncovered as the man in control of the company, the insolvency service said.
Sitting in the High Court, Registrar Derrett found all of these allegations to be proven and handed down the maximum period of disqualification available.
"Hiding behind false names and stooges will not protect rogue directors. As this case shows, our investigations will reveal who is ultimately in control and we will take robust action to address wrongdoing," said Paul Titherington, official receiver in the Public Interest Unit.
"In handing down the maximum possible period of disqualification, the Court has shown that this kind of behaviour will not be tolerated. It also demonstrates that the insolvency service will seek to remove these people from the business environment"