Former Inc & Co executives face jail time for court order violations.
- The three were accused of illicitly moving £13.7m from Barclays accounts.
- They were found guilty of contempt for breaking asset-freezing directives.
- Misuse of funds for personal gains and offshore transfers were highlighted.
- Insolvency Service to seek disqualification of one of the involved parties.
In a notable legal development, former executives of Inc & Co, a private equity group, have been handed prison sentences of 22 months each. This follows their deliberate breach of court orders related to allegations of extracting £13.7 million from Barclays bank accounts unlawfully.
The individuals in question, Scott Dylan, David Antrobus, and Jack Mason, were found guilty of contempt of court after a judge determined they violated asset-freezing orders. The court noted that these violations were part of an elaborate scheme to obscure the unlawful transfer of funds and included false statements to the court. Barclays had initiated proceedings, accusing the trio of orchestrating an unlawful conspiracy to exploit automated systems for unauthorised financial withdrawals through associated companies.
The misappropriated funds were allegedly channelled for various personal benefits. It’s reported that around £157,000 was spent on a trip to Turkey for Dylan and others, using private jets. Additionally, significant sums were directed towards family and associates, including payments for a hotel purchase in Turkey and benefits to a romantic partner.
Dylan’s admission of contempt contrasted with Antrobus and Mason’s continued denials, which led to a trial. Judge Rajah’s ruling highlighted their repeated false testimonies and the continuation of offshore financial activities that defy the imposed legal restrictions. Despite claims of remorse, the assets remain undisclosed and outside judicial reach.
Separately, the Insolvency Service is planning to pursue disqualification proceedings against Dylan, currently in custody. Arrest warrants are active for Mason and Antrobus, located in Spain and Ireland, respectively. This case follows previous allegations, including non-cooperation during multiple company failures and significant debts, which have been denied by the accused.
The legal consequences and ongoing investigations underscore the seriousness of financial misconduct allegations.
