Boss bans: justice is served
Lloyd Davis, 40, Swansea
Company: JAS Financial Advisory Services Limited, trading as Hampton Rae.
Ban: Seven years. Back in 2015 I wrote: “Here’s another name to add to the list of dodgy compensationchasing companies.”
Hampton Rae’s cold callers said you could get PPI compensation, but must pay £495 upfront first.
Victims got no compensation or refunds and banks had to pay more than £170,000 in chargebacks to customers who paid by credit card. Steven Cole, 47, Suffolk Company: The Timeshare Mart Ltd. Ban: Seven years. The company never passed on money paid by timeshare buyers to eight sellers, leaving them £34,000 out of pocket.
Money paid by the buyers that should have gone into a ringfenced client account was instead put into a general company account.
Lillian Milner, 50, Lancs
Company: Equitable Law Capital Ltd.
Ban: 12 years. This disaster raked in £1.3million from investors by claiming that it could make money by, ironically, processing claims of people who’d been mis-sold investments.
But it never made a profit, with an Insolvency Service report stating: “There is no evidence of any material due diligence conducted by the directors.”
The hopeless claims marketing company that was used to pursue mis-selling cases lacked “the skills, expertise or capacity”.