Investment Firm Execs Banned Over Tax Scheme Withdrawals

Law360, London (May 8, 2019, 5:53 PM BST) -- Three company directors behind a failed £70 million ($91 million) unregulated investment scheme have been disqualified after a probe found they had withdrawn millions in contested tax from an arrangement being investigated by HM Revenue & Customs, a government agency said Wednesday.

Matthew Pickard, Stephen Greenaway and Paul Laver — who ran now-defunct Ethical Forestry Ltd. — have each been banned from acting as directors of a limited company for six years, the Insolvency Service said.

Ethical Forestry entered into liquidation in 2015, triggering the investigation by the Insolvency Service into the conduct of the directors. Prior to entering liquidation, the...

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