Filippo Dioguardi, 58, based in Glasgow, was disqualified as a director for nine years.
He was the sole director of Camardo Coffee (Scotland) Ltd, which was incorporated in 2015 and initially registered at an address in East Kilbride, before moving to Glasgow around May 2018.
Dioguardi was appointed director in September 2019, becoming sole director two months later.
The business went into liquidation soon after, in August 2020, by which time the last accounts filed showed assets totaling over £800,000.
However, due to the lack of company records maintained by Filippo Dioguardi, it was impossible for the liquidator or the insolvency service to establish the accuracy of these, or whether any assets were transferred to their fair value and for the benefit of the company or its creditors.
Instead, Dioguardi refused to co-operate with the Insolvency Service’s investigation, which also identified he had taken out a £50,000 taxpayer-backed repayment loan on May 27, 2020, less than two months before. liquidation.
The survey also noted outflows from the company’s account between April 2020 and August 2020 of almost £150,000, including cash withdrawals of over £70,000. It could not be established whether these funds were used for legitimate business purposes or to repay creditors.
The Secretary of State for Business, Energy and Industrial Strategy has accepted a commitment to disqualify Filippo Dioguardi after he admitted not having kept, preserved or provided adequate accounting records. His ban runs from March 25, 2022 to March 24, 2031.
The forfeiture undertaking prevents him from getting involved directly or indirectly in the promotion, constitution or management of a company, without judicial authorization.
Rob Clarke, Chief Insolvency Service Investigator, said:
Keeping proper records is a core obligation for directors and there is no place in the corporate arena for those who neglect their responsibilities in this area and thereby cover up the activities of the companies they manage.
The absence of documents in this case made it impossible to determine whether there was other, more serious misconduct involved and what happened to £50,000 of government guaranteed funds which were not accounted for. This is reflected in the long disqualification period.
Notes to Editors
Filippo Dioguardi is an Italian national born in March 1964 living in Glasgow.
Camardo Coffee (Scotland) Ltd company number – SC500544
A disqualification order means that, without the express permission of a court, a disqualified person cannot:
- act as a director of a company
- participate, directly or indirectly, in the promotion, incorporation or management of a company or a limited liability company
- to be a receiver of a company’s assets
Forfeiture undertakings are the administrative equivalent of a forfeiture order but do not involve court proceedings.
Persons subject to a disqualification order are bound by a series of other restrictions.
Information about the work of the insolvency service and how to complain about financial misconduct.
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