Fraudulent Business Carried out by a Sole Trader

This offence is parallel to that of fraudulent trading (s.458 Companies Act 1985), but instead applies to non-corporate traders including sole traders, partnerships, trusts, and companies registered overseas.

A conviction can only result if it is proved that the defendant:

  • was knowingly a party to the carrying on of a business;
  • with intent to defraud creditors of any person or the business, or
  • for any other fraudulent purpose.

The term "fraudulent purpose" means an intention to go beyond the bounds of what ordinary decent people engaged in business would regard as honest.

A person guilty of an offence under this section is liable;

  • to a term not exceeding six months imprisonment and/or to a fine not exceeding £5000, if dealt with in the Magistrates court,
  • to a term not exceeding 10 years imprisonment and/or an unlimited fine, if dealt with in the Crown court.

Our specialist team of fraud solicitors have been representing client for over twenty years. This significant experience and expertise will ensure that your case is handled in the best possible way.

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