DIRECTORS OF A UK COMPANY OFFERING COSTA RICAN PLANTATION INVESTMENTS BANNED

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.

https://www.gov.uk/government/news/ethical-directors-banned-after-withdrawing-millions-in-contested-tax-scheme

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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