Plastering boss banned for skimming accounts
An Arbroath construction director has been banned for seven years after failing to explain more than £700,000 worth of expenditure.
Forfar Sheriff Court court heard that Angel Tas Limited was incorporated in October 2017 and Cristina Angelica Tasca, 27, from Arbroath, was appointed the director of the company which specialised in plastering and rendering.
Angel Tas began to miss obligatory tax payments in 2019, and after failing to respond to repeated requests for payment the tax authorities petitioned the courts to wind-up Angel Tas. The courts wound up the construction company on 30 December 2019 before a liquidator was appointed.
Despite the liquidator’s numerous requests, Tasca failed to provide any company accounts or records. This meant the liquidator was unable to establish the purpose of more than £716,000 worth of expenditure, including cash withdrawals of £16,000 from the company’s bank.
The liquidators were also unable to confirm whether the receipts of nearly £700,000 were a true representation of all the company’s sales.
Following an investigation by the Insolvency Servic Tasca was disqualified for seven years.
The disqualification prevents Tasca from directly or indirectly becoming involved in the promotion, formation or management of a company without the permission of the court.
Rob Clarke, Chief Investigator of the Insolvency Service, said: “All directors have a duty to ensure their companies maintain proper accounting records. This includes delivering them to the office-holder in the event of an insolvency.
“For failing to account for all of Angel Tas’ transactions, it is impossible to determine whether Cristina Tasca has performed her duties properly or is using a lack of documentation as a cloak for impropriety.”
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