I read a story today that had similarities with the script of Wall Street, William Lane of Bedale and his fellow con artist have been convicted of fraudulently asset stripping companies, using the company pensions incorrectly and 46 members of staff losing their jobs. A Shopfitters and a paper stationary businesses were asset stripped to the tune of around £4 million.
The judges in this case said that the men were using the compaines as their personal piggy banks and their use of the company funds ultimately led to the demise of the companies.
If you’re working for a company where you feel that something is happening that shouldn’t be, don’t be afraid to report it to the Serious Fraud Office.
