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Heads Of UK Debt Management Firm Banned For 29 Years

Law360, London (June 13, 2018, 1:37 PM BST) -- Three directors of a debt management company have each been banned from running a business for up to 11 years, the U.K.’s Insolvency Service said on Wednesday, after an investigation found they had mismanaged and pocketed their customers' money.

RMR Financial Services Ltd., which traded as Compass Debt Counsellors, charged clients fees to deal with creditors on their behalf. The company went bust in March 2016 and was placed into voluntary insolvency. An investigation by the administrator uncovered more than 750 claims from creditors who said...
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