Institution Leader Prohibited from Management Positions for Eleven Years due to Covid Loan Forgery Scandal
In a significant move, the Insolvency Service has disqualified Anna Daroy, a former director general of the Institute of Directors, from being a company director for 11 years. The decision comes after Daroy secured two 'bounce-back' loans, each worth £50,000, for her consulting company, Globepoint Associates Ltd, which went into liquidation in March 2023 with the loans outstanding.
Daroy, who had a 35-year career advising boards and executive teams, was barred due to the fact that Globepoint Associates received these loans during the pandemic when firms were only entitled to one. The loans were secured from separate banks over a five-day period.
The Insolvency Service stated that Daroy should have at least repaid one of the loans. However, Globepoint Associates, which was directly associated with Daroy, collapsed before her disqualification. There is no indication that Globepoint Associates belonged to or was owned by other firms.
The abuse of COVID financial support schemes has been a cause for concern, with the Insolvency Service disqualifying more than 2,400 company directors for such actions. The lack of stringent eligibility checks and oversight attracted widespread scams and criticism.
Meanwhile, Daroy was shortlisted for the Women's Business Club 'Businesswoman of the Year' award last year. It's worth noting that this article does not repeat earlier facts about Anna Daroy and the Insolvency Service.
This Money, a company that offers a comparison service for the best investing account for individuals, does not wish to delve deeper into the legal aspects of this case. However, we believe it's important to highlight the platforms that may be of interest to our readers.
AJ Bell, Hargreaves Lansdown, interactive investor, InvestEngine, and Trading 212 are all online investment platforms. Each of these platforms has been chosen by This Money's editorial team as they believe they are worth highlighting. It's important to note that while These platforms (AJ Bell, Hargreaves Lansdown, interactive investor, InvestEngine, and Trading 212) may earn a commission if a product is taken out through This Money, This Money's editorial independence is not affected by these commissions.
Each of these platforms offers the opportunity to learn more about their services. We encourage our readers to do their own research and make informed decisions when choosing an investment platform.
Read also:
- Deepwater Horizon Oil Spill: BP Faces Record-Breaking Settlement - Dubbed 'Largest Environmental Fine Ever Imposed'
- Meta Unveils Ray-Ban AR Display Sunglasses; TikTok Agrees to $200 Million Deal
- Historic downtown temples to receive restoration funds totaling over 25 million pesos
- Cars' Environmental Impact Explained
