Six businessmen involved with Total Asset Ltd (TAL) and fibre optics firm H20 Networks have been formally charged with conspiracy to commit fraud.
They appeared at Westminster Magistrates’ Court yesterday in relation to the Serious Fraud Office investigation into the collapse of the Warrington-based funder in January 2011, with debts of around £150m.
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According to the SFO the charges were connected to "the purchase of alleged false and inflated receivables agreements by KBC Lease (UK) Ltd and Barclays Asset Finance from Total Asset Ltd".
Stephen Dartnell, George Alexander and Kerry Lloyd, formerly of TAL; Elfed Thomas and Carl Cumiskey, formerly of H2O Networks Ltd; and Simon Mundy, formerly of KBC Lease (UK) Ltd, were charged.
Dartnell, Mundy and Lloyd were also charged with conspiracy to give corrupt payments in connection with the same agreements, which were referred by KBC to the SFO in October 2010.
The defendants will appear at Southwark Crown Court on January 22.
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By GlobalData
