David Toal secures acquittal after 4 week fraud trial
October 19, 2017
In R-v-DP (& Others) David, instructed by Cunninghams Solicitors, represented the Director of a large tyres and exhaust business with 4 separate premises in Lincolnshire. Together with 3 Co-Defendants he was charged with offences of Fraudulent Trading, Fraud by False Representation and Converting Criminal Property.
It was alleged that the Defendants had removed substantial funds from the Company in a number of different and complex ways over a long period of time to fund their own lifestyles. This also involved obtaining a large amount of finance on company assets that it no longer owned as those assets had already been sold as part of a previous finance agreement. Eventually the Company got into financial trouble so the Defendants took steps to avoid paying creditors by creating a new Company which took over the business before the original Company was then liquidated with debts of £700,000.
David’s client was acquitted and Not Guilty verdicts entered on all three charges.