Investment Scammer Faces Maximum Bankruptcy Penalties
An investment scheme fraudster located in Derby was recently subjected to 15 years of Bankruptcy Restrictions in order to keep the public safe from any further damage.
Between 2011 and 2016, 60-year-old Andrew Bird deceived 13 separate parties in investment scams. The head of an investment firm in Derby ran a deceptive operation, tricking individuals into putting their money into a fraudulent investment scheme. To protect the public from further financial harm, authorities have imposed the harshest penalty possible by extending his bankruptcy restrictions for an additional 15 years, which is the maximum allowed.
Here is what Robin Dury, Official Receiver at the Insolvency Service, had to say about Andrew’s crimes:
“Andrew Bird purposely deceived people who trusted him into handing over money for what they believed to be secure investments. We are pleased that these lengthy Bankruptcy Restrictions will prevent him from causing further harm to people, by curtailing his business activities for a long time.”
Bankruptcy Restrictions limit Bird’s financial and professional activities. He cannot serve as a company director without court approval or borrow over £500 without disclosing his restricted status. Certain public organisation roles are also off-limits to Paul.
Bird’s initial bankruptcy occurred in November 2016. In January 2018, the courts imposed a five-year interim Bankruptcy Restrictions Order (BRO) to protect against further misconduct while awaiting his criminal trial. The Official Receiver requested this order after investigating Bird’s bankruptcy status.
From January 2011 to August 2016, Bird knowingly deceived investors about a trading platform scheme, promising profits for personal gain. On August 1, 2024, Nottingham Crown Court sentenced him to eight years in prison.
Bird agreed to extend his restrictions until January 24, 2033 – a total of 15 years from the interim order’s date. The Secretary of State for Business and Trade approved this on July 15, 2024.
Bird admitted to dishonestly misleading 13 parties (individuals and couples) into a potentially loss-making investment, violating the Fraud Act 2006.
This information was taken from the official gov.uk website.