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asked 4 days ago by Anna (2,570 points)

What financial restrictions will face Mr Mudge?

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asked 4 days ago by Bruce (2,260 points)

1 Answer

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answered 4 days ago by KevinAdams (3,480 points)
selected 4 days ago by Bruce
 
Best answer

Mr Mudge’s period of bankruptcy restriction means that he cannot promote, manage, or be a director of a limited company until February 2029.  He also must disclose his status as a person subject to bankruptcy restrictions to a credit provider if he wishes to get credit of £500 or more.

commented 4 days ago by Bruce (2,260 points)
How did the lead his firm to bankruptcy?
commented 4 days ago by KevinAdams (3,480 points)
Between June 2009 and February 2012,  he solicited £8.5 million from investors for his unauthorised investment scheme. The complaint also charged Mudge with making several misleading representations to actual and prospective investors. Such misrepresentations included that he was exempt from the FCA’s registration requirement. He also failed to provide pool participants with required monthly account statements and annual reports.
commented 4 days ago by Bruce (2,260 points)
What a shame. Thank you.
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