Ban for cheating directors

Insolvency Service acts against two who falsely claimed to have raised £1m for children with cancer

The two former directors of a pair of companies that made false claims about funds raised for charity have been banned from acting as directors for a total of 18 years.

The Companies Investigation Branch of the Insolvency Service announced yesterday that Bruno Schulz and his son Paul accepted bans of 10 and eight years respectively for their roles in running two Scottish companies that falsely claimed to be donating money to help sick children.

The Goodwill Children's Cancer Company and Rosebuds (UK) were both shut down by the Insolvency Service last year (Third Sector Online, 16 December).

The service's investigation found that although the companies claimed to have raised sums of up to £1m through door-to-door sales of a newsletter, only £250,000 had been raised. Of this, £190,000 had been paid to the directors.

The ban makes it a criminal offence for either of them to act as a director or take part in the management of a limited company.

Andy Ricketts recommends

Insolvency Service

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