Insolvency Service Criminal Investigations: What You Need to Know

The Insolvency Service is a government agency responsible for dealing with insolvency matters in the UK. This includes investigating and prosecuting individuals and companies that have committed fraud or other criminal offences related to insolvency.

If you or your company are facing an investigation by the Insolvency Service, it is important to understand what this means and how to respond. In this article, we will provide an overview of Insolvency Service criminal investigations and what you should do if you are facing one.

What is an Insolvency Service Criminal Investigation?

An Insolvency Service criminal investigation is an investigation into potential criminal offences related to insolvency. This can include fraud, theft, and other financial crimes. The Insolvency Service has the power to investigate both individuals and companies that have been involved in insolvency proceedings. This includes bankruptcy, liquidation, and administration.

When the Insolvency Service believes that a criminal offence has been committed, they will conduct an investigation to gather evidence. If the Insolvency Service finds evidence of criminal activity, they may pursue criminal charges against the individuals or companies involved.

What are the Penalties?

The penalties for Insolvency Service criminal offences can be severe. Individuals and companies may face fines, imprisonment, or both. The exact penalties will depend on the specific offence and the circumstances surrounding the case. For example, if someone is convicted of fraud in an insolvency case, they could face up to 10 years in prison and an unlimited fine.

It is important to note that the Insolvency Service can also pursue other penalties, such as disqualification from acting as a company director or being banned from managing a company.

How to respond to an Insolvency Service Criminal Investigation

If you or your company are facing an Insolvency Service criminal investigation, it is important to take the matter seriously and respond appropriately. The first step is to seek legal advice. A solicitor with experience in insolvency and criminal law can help you understand the nature of the investigation and the potential consequences.

It is important to cooperate with the Insolvency Service during the investigation. This includes providing any information or documents requested and attending interviews if necessary. At the same time, it is also important to protect your rights and interests.

Jeremy Gordon can provide the legal expertise to ensure you and your company are protected. If the Insolvency Service decides to pursue criminal charges against you or your company, it is important to have a solicitor with experience in insolvency and criminal law that can provide the legal advice and representation you need to navigate this complex process.

Our lawyers are available to assist you and provide legal advice.

Contact London +44 7700 158304 or Manchester +44 7700 164107. Alternatively you can email info@jeremygordon.co.uk

Click here to view our Insolvency Service Criminal Investigations service page.