Losing money to a scam investment scheme is bad enough. But then being targeted a second time by bogus officials asking victims to hand over personal details with false promises of getting their money back… it’s enough to make you wonder if there’s any justice in the world.

Reports of just such a so-called recovery room scam targeting investors who were duped into backing a rogue wine company have prompted the Insolvency Service to issue a warning. 

What makes it even worse is that many of the people being hounded again are known to be elderly and vulnerable.

Read more: Victims of Wine Investment Stitch-Up Face Double Threat

A company with links to a prominent Conservative peer that secured a fast-track government PPE contract during the COVID pandemic has been slapped with a winding up petition by HMRC.

PPE Medpro Ltd was incorporated on 12 May 2020, just days after Tory peer Michelle Mone contacted procurement minister Theodore Agnew with an offer to source personal protective equipment for the NHS from Hong Kong. Mone took the step having apparently first consulted Cabinet Office minister Michael Gove.

Within six weeks, the company was handed two separate contracts worth a total of £200 million. As part of the government’s ‘VIP lane’ fast-track scheme to supply the NHS and care sector with enough personal protective equipment at the height of the pandemic, PPE Medpro did not have to go through a competitive tender for either contract.

Read more: Tory-Linked PPE Firm Issued with Winding Up Order By HMRC

Fans of comic book spin-off magazines and collectibles are mourning the news that Eaglemoss Ltd has filed for administration under the burden of massive post-pandemic debts.

In operation since 1975, Eaglemoss had grown into a leading specialist in licensed collectibles, producing, marketing and selling merchandise for cult film and TV series like Dr Who, Star Trek, Ghostbusters and DC Comics.

In particular, it is recognised as the world’s biggest name in so-called part works publishing -  a sub-category of the magazine industry that focuses on serialised, collectible publications with time-limited runs. Part works publications are often accompanied by free gifts for readers to collect. 

Read more: World’s Largest Collectibles Publisher Latest to Fall Victim to Post-COVID Slump

A former Premier League footballer who ran up huge gambling debts while struggling to pay his bills has been hit with extended bankruptcy restrictions.

Danny Guthrie, 35, who started his career at Liverpool before going on to play for Bolton Wanderers, Newcastle United and Reading in the Premier League, admitted breaking insolvency rules after borrowing £75,000 from a friend.

The loan was made in May 2019 to help Guthrie through some financial difficulties on the understanding that he was in the process of selling a property to raise capital. A promise was made to repay the loan after the sale went through.

Read more: Footballer Slapped With Bankruptcy Order Over Gambling Debts

Contractors could end up footing the bill after a recruitment agency director who swindled HMRC out of millions in unpaid taxes received a paltry eight-year disqualification.

Adrian Sacco ran Manchester-based Best Employment Services (BES), an umbrella payroll company targeting high-earning contractors in IT, engineering and HR. 

The 55-year-old, who company records show has been director of a string of liquidated or dissolved payroll agencies over the years, faced investigation by the Insolvency Service after BES was wound up in 2019 owing at least £4.1m in tax to HMRC.

Read more: Contractors Face Losses as Tax-Dodging Director Gets Laughable Ban

The new head of the Federation of Small Businesses (FSB) has told the government the UK’s late payment culture is hurting the ability of SMEs to deal with spiralling costs.

In an audience at Number 10 Downing Street, Martin McTague, who was appointed chair of the Federation in March, spelled out his concerns about the economic challenges facing the UK’s five million small businesses.

High on the list was the on-going issue of late payments, which McTague said was holding back post-COVID recovery in the SME sector and causing unnecessary financial distress as inflation hit a 40 year high. 

Read more: Late Payments Compounding Inflation Crisis for Small Businesses - FSB Chief

Former Wimbledon champion Boris Becker has been sentenced to two and a half years in jail for failing to disclose millions of pounds worth of assets in a high-profile bankruptcy swindle.

The tennis ace, 54, was found guilty on four charges at Southwark Crown Court on April 8 2022.

The case was brought in relation to Becker’s bankruptcy dating back to 2017. In June that year, he was declared bankrupt over failure to keep up with repayments on a £3.85m loan from German bank, Arbuthnot Latham.

Read more: Becker Bang to Rights for Bankruptcy Racket

A pilot scheme in the Netherlands which saw debt recovery specialists brought in to investigate online fraud cases resulted in half the victims getting at least some of their money back.  

The trial focused on incidents where people had made a purchase online but never received the goods they paid for. Working with Dutch police, two debt collection organisations were asked to step in to track down the scammers and work on recovering funds.

In total, a quarter of the victims ended up getting all their money back, while another quarter received some of their money. In total, 87% of the fraudsters either paid back the money or went on to face police charges.

Read more: Dutch Trial Shows Potential of Debt Recovery Expertise in Fraud Cases