A Birmingham-based director of three mortgage support companies has been told by the High Court that she has been disqualified from being a company director for nine-and-a-half years.
Daljit Kaur Dhillon, born in 1975, who was also ordered to pay costs of £12,000, was the director of Repossession Management Bureau Ltd, RMB Assets Ltd, and OM Payments Ltd.
The companies were ostensibly set up to offer financial assistance to people in mortgage arears by taking a charge out on the properties in order to protect the equity.
It emerged, however, that these companies were not forthcoming about the amount of fees being levied or for what work, or that the charge secured the indebtedness of the client. Furthermore, company representatives would use false names, meaning that clients would not know who they were dealing with.
It was also revealed that the three companies were formed after Red2Black Ltd, a previous business, ceased trading after an investigation by another government agency, which resulted in the director – the former husband of Dhillon – being handed a Final Notice and a fine of nearly £1m.
Insolvency Service deputy official receiver Helen Morten says: “Daljit Dhillon set out specifically to mislead members of the public who were in a vulnerable financial position for her own considerable personal gain.
“The court’s decision to disqualify her shows the seriousness with which this type of cynical financial service activity is viewed.”