Director disqualification for dodgy wine dealer

Wine specialist William Mason receives 10-year director disqualification ban after abusing money investors paid into his company William Mason Fine Wines

Earlier this month, former wine investor William Geoffrey Mason received a 10-year company director disqualification. An Insolvency Service investigation found that Mason, 54, “abused” hundreds of thousands of pounds investors paid his company. Between 2001 and 2019, Mason’s business, William Mason Fine Wines (WMFW), received more than £445,000 in payments from investors. However, investigators concluded…

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Consumers warned over pre-paid energy scams

Consumers warned to avoid discounted pre-pay energy top-ups

Britain’s leading fraud prevention service, Cifas, has warned gas and electricity customers to avoid pre-paid energy scams disguised as discounted offers. The scams have already affected over 188,000 victims, including British Gas, EDF Energy, E.ON, Scottish Power, and SSE customers. It’s no secret the cost of living is increasing at a startling rate. Many UK…

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When digital currency goes wrong Netflix documentary

Gerry Cotten's cryptocurrency company went down owing investors millions of dollars

Netflix’s newest true-crime offering is a cautionary tale about the world of cryptocurrency investments. Trust No One: The Hunt for the Crypto King follows the rise and fall of Gerald Cotten, founder of the QuadrigaCX cryptocurrency exchange. The result is a gripping documentary that attempts to trace the $150million (around £115m) investors lost following Cotton’s…

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End of temporary insolvency measures

Creditors are now free to present a winding-up petition on a debtor company that owes over £750 following the lifting of the government's temporary CIGA 2020 insolvency measures

Last week, the Government withdrew the temporary insolvency measures introduced two years earlier to support businesses during the Covid-19 pandemic. Creditors could obtain winding-up petitions under the temporary legislation (enacted as part of the Corporate Insolvency and Governance Act 2020). However, the debt threshold for winding-up petitions increased to £10,000 and creditors were compelled to:…

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Cybercrime: Beware of Ukraine donation scams

It is hard not to be affected by the horrific scenes of war from Ukraine that appear daily on our screens. We can only empathise with the innocent people caught in the crossfire. Most of us feel helpless, but want to help anyway we can. Consequently, there has been a global outpouring of cash and…

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Due diligence in the Dragon’s Den

More than 50% of companies that secure investment on Dragon's Den never receive anything

Although the BBC’s long-running reality TV show Dragon’s Den has produced several business success stories, there have also been some missed opportunities. In 2007, for example, Jamaican chef Levi Roots earned a tidy sum after celebrity angel investor Peter Jones offered £50,000 for a 40% stake in his Reggae Reggae Sauce business. However, later that…

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