Beds, Herts & Bucks

Diamond trader from Ware banned over £1m false invoices

Uncut diamond, stock image Image copyright Getty Images
Image caption Clarity Diamonds went into voluntary liquidation in June 2017

A diamond trader who allowed false sales invoices worth more than £1m to be produced, has been banned from running a business for nine years.

Mark Walker, 57, from Ware, Hertfordshire, was a director of Clarity Diamonds, which went into voluntary liquidation in June 2017.

It said it could not pay its £1.2m debts, the Insolvency Service found.

It meant liquidators could not trace the pieces to recover their value, the service said.

Fellow director, Jan Asscher, 56 from Roosendaal, Holland, was banned for 11 years for falsifying the records.

The Insolvency Service banned the pair directly or indirectly becoming involved, without the permission of a court, in the promotion, formation or management of a company.

'Substantial ban'

The investigation found Mr Asscher had caused the company to falsify invoices relating to bespoke, diamond jewellery.

The value on the invoices was £1.38m, the service said.

"The documents, which Mr Asscher referred to as 'holding invoices', were generated with names and addresses that reflected neither the ultimate recipient nor the full value of the order," it said.

It meant "liquidators could not even trace the pieces to recover them for the benefit of creditors".

Marc Symons, deputy head of insolvent investigations, said: "Directors have a duty to maintain accurate records.

"These experienced diamond dealers have received substantial bans, and this should serve as a warning to others who are remiss in their directors' responsibilities."

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites