Ex-bankrupt £41m debt Tory is back .. offering £20m loans
Ex-party bigwig joins two firms after ban ends
A ForMEr Scottish Tory treasurer who was declared bankrupt over £41million of debts is making a comeback in the business world.
Malcolm Scott, who was also punished for failing to declare a speedboat and a wine collection to investigators, is part of a venture which claims to offer loans of up to £20million.
Fettes-educated Scott was a grain and property tycoon who became a key figure in the party north of the border and a generous donor. He was friendly with A-list Tories and let former PM David Cameron use his private jet.
but the former Crimestoppers Trust director was made bankrupt in 2012 and accused of concealing lucrative assets.
After court hearings, a sheriff made a five-and-a half year bankruptcy restriction order (bro) against Scott in 2015 over misconduct. A bro imposes a ban on acting as a director and places conditions on getting credit.
Scott’s bro expired in February this year and, according to Companies House, he became director of orwell Land Two Ltd and orwell Land Ltd weeks later.
The second company’s website claims the firm’s expertise is as “concept and planning specialists”.
both firms list an address in Northern Ireland, where the website claims orwell Land worked on a retail project.
A LinkedIn profile in Scott’s name offered a description of the organisation: “Investment in property and companies for high net worth individuals. bridging loans available up to £20m.” The Accountant in bankruptcy, which is a Government agency and Scotland’s insolvency service, said at the time of the 2015 court order: “Mr Scott neglected to declare assets to his trustee including a speedboat and wine collection.
“The trustee later discovered some assets were sold and Mr Scott could not account for the proceeds.
“It was discovered that shares were transferred, which could have been sold for the benefit of creditors.”
After his fall from grace, Scott became a DJ at a radio station and was listed as a cast member in a film called Vulture.
The film’s online blurb says: “Vulture is a journey into a world of … bloody operations, abandoned rooms, money changing hands, people getting used.
“A haunting observation of vulnerable desperation and mercenary existence, Vulture leaves you with something you can’t wash off.”
An SNP source said: “boris Johnson and his government cronies are up to their necks in corruption but we know Tory sleaze is nothing new.
“The public should be very wary of entrusting their cash or their reputation with this man.”
The Scottish Tories said Scott is not a party member.
Scott could not be reached.