29 Jun 2017 | Posted In Debt / Money Advice Sector News
MALG member The Insolvency Service has announced that 14 companies involved in unauthorised money lending controlled by Dharam Prakash Gopee have been wound up by the High Court.
This follows an investigation by Company Investigations of the Insolvency Service which found that of the 14 companies, only one had ever possessed a consumer credit licence permitting it to operate as a lender. That licence had been revoked in 2013, following a Tribunal finding that Mr Gopee lacked the both the integrity and the competence to operate a consumer credit business.
The unlicensed companies lent to members of the public at high interest rates, secured against the borrowers’ homes and brought numerous court cases to take possession of properties belonging to borrowers who fell behind with payments.
The companies subject to the winding up order are:
- Euro Business Finance plc
- Reddy Corporation Limited
- Ghana Commercial Finance Limited
- Barons Bridging Finance 1 Limited
- Barons Finance 1 Limited
- Moneylink Finance Limited
- Agni Investments Limited
- Ghana Commercial Investment Ltd
- Pangold Estate Limited
- Pangold Investments Limited
- Speedy Bridging Finance Limited
- Marketing Web Limited
- Agni Estates Ltd
- Euro Asset Management Limited
The Financial Conduct Authority is currently taking criminal action against Mr Gopee for acting as an unlicensed consumer credit lender.