PPI claims boss banned for ten years

Money

The Department of Business has banned the director of payment protection insurance claims firm Claim & Gain for ten years for misleading customers and breaching regulations.

Dean Anthony Spencer cannot form or manage a company until 4 April 2027.

The Insolvency Service says Claim & Gain, led by Spencer, misled the public in sales calls about claims services offered, fees charged, outsourcing to third parties and cancellations.

Services paid for by customers were not provided and fees were deducted from customers without their permission.

Claim & Gain were investigated by the Ministry of Justice, who issued warnings about breaches of the rules.

But Spencer ignored the warnings and took upfront fees from another 149 customers.

Insolvency Service investigations group leader Robert Clarke says: “When company directors do not comply with legislation that is designed to protect customers and avoidable losses result, The Insolvency Service will seek lengthy periods of disqualification.

“This should serve as a warning to other directors who may feel tempted to breach customer protection legislation. The Insolvency Service will rigorously pursue directors who deliberately mislead and breach the trust of customers.”