On 8th May, the Insolvency Service issued a news release saying that directors of Ethical Forestry Limited, a company offering Costa Rican plantation investments, have been banned after withdrawing millions in tax from a scheme they knew was being investigated by HMRC. The Secretary of State has accepted Disqualification Undertakings from all 3 directors who have been banned from acting as directors of a limited company for 6 years each. Around 3,500 UK investors were registered with the company and invested approximately £70 million in the unregulated scheme to own trees on the plantations.
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