Fourteen unlicensed lending companies shut down by High Court

All the companies were involved in unauthorised money lending

 
Following investigations by the Insolvency service it was found that only one of the businesses had ever possessed a consumer credit licence permitting it to operate as a lender, which expired four years ago.
 
The court heard that the paperwork provided to customers was confusing and unclear. High-interest lending was secured against homes and numerous court cases were brought against borrowers to try and take possession of houses after they fell behind on repayments. 
 
Owner of all the companies, Dharam Prakash Gopee, had his licence revoked in 2013, following a Tribunal finding that he lacked the integrity and competence to operate a consumer credit business. Mr Gopee was then disqualified as a director in 2016 for 15 years (the maximum disqualification available) and this ruling sparked the subsequent IS investigation. 
 
David Hill, a chief investigator with the Insolvency Service, commented:
 
“I am very pleased to see that the Court has called a halt to the unscrupulous activities of these companies. They have pursued hundreds of borrowers for loans that should never have been made.”
 
The Financial Conduct Authority (FCA) is currently taking criminal action against Mr Gopee.
 
The companies subject to the winding up order are:
 
Euro Business Finance plc
Reddy Corporation Limited
Ghana Commercial Finance Limited
Barons Bridging Finance 1 Limited
Barons Finance 1 Limited
Moneylink Finance Limited
Agni Investments Limited
Ghana Commercial Investment Ltd
Pangold Estate Limited
Pangold Investments Limited
Speedy Bridging Finance Limited
Marketing Web Limited
Agni Estates Ltd
Euro Asset Management Limited