Canary Wharf lettings agency bosses slammed by Insolvency Service

As well as being banned for 13.5 years from being directors, Khushal Khagram, Andrew Matin and Alan George are criticised by investigators for misconduct.

harrison property insolvency lettings agency

Three lettings agency bosses have been banned from being company directors for a total of 13.5 years and heavily criticised for their misconduct following an investigation by The Insolvency Service.

Khushal Khagram, Andrew Matin and Alan George, who were all directors of now insolvent lettings agency Harrison Property Partners Ltd operating in Canary Wharf (pictured), East London, were involved in failing to submit tax returns ‘to the detriment of the tax authorities’ totalling some £500,000.

The investigation, which was triggered by the collapse of the company, also examined other misconduct issues at the agency including a failure to maintain sufficient accounting records.

Questions also remain whether expenses payments totalling £770,000 to Matin were legitimate, and investigators looked at the nature of payments into three different accounts totalling £187,000 as well as determining how much the three directors paid themselves.

Investigators also sought to find out the reasons for the company’s insolvency which, due to the poor record-keeping, are unclear.

Banned

All three directors have been heavily criticised by The Insolvency Service for their misconduct. Khagram has been banned for four years, Matin for six years and Clark for 3.5 years.

Lawrence Zussman, Deputy Director of Insolvent Investigations, says: “All three property bosses totally disregarded their responsibilities as company directors.

“The absence of proper company records means we cannot verify legitimate business activities and the failure to submit tax returns means they also abused the taxpayer in the process.

“13-and-a-half years is a considerable amount of time to be removed from the corporate arena and will protect creditors and the tax payer from any further harm caused by Khushal Khagram, Andrew Matin and Alan Clark.”

Read more about insolvencies in the sector.


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