Five former directors of a food firm have been disqualified following the managing director’s purchase of gold bullion “for his sole benefit”.
The family members were banned from being company directors for a total of 16 years after an Insolvency Service investigation into Bradford-based Greentabs Ltd, previously known as Mumtaz Food Industries.
The Insolvency Service said the company’s managing director, Dr Gul-Nawaz Khan Akbar, was disqualified for six years.
An Insolvency Service spokesperson said: “He failed to act in the best interest of the company by purchasing gold bullion to the value of £976,055 with company funds for his sole benefit whilst creditors amounting to £447,997 remained unpaid.”
Dr Akbars two brothers,…
Read the full article at: https://www.yorkshirepost.co.uk/news/former-directors-of-bradford-food-firm-mumtaz-disqualified-over-970k-gold-bullion-purchase-1-9010190
