The director of an English mobile phone company, now in liquidation, has been held liable for both fraudulent trading and misfeasance for participation in missing trader intra-community (MTIC) VAT fraud. – OUT-LAW.com
‘The High Court upheld an application made by the liquidator of JD Group Ltd (“the company”) claiming that Deepak Bhatia, the company director, was engaged in fraudulent trading owing to knowledge that the company was associated with VAT fraud. Judge Agnello QC found that the manner in which the respective transactions were carried out provided clear evidence of this knowledge and that Bhatia’s conduct was dishonest in accordance with the objective standards of ordinary decent people.’
OUT-LAW.com, 3rd March 2022
Source: www.pinsentmasons.com
