Case details for Matthew Charles NAGY

Name: Matthew Charles NAGY

Name: OYSTERWORLD LIMITED

Date of Birth: 13 / 4 / 1968

Date Order Starts: 13 / 8 / 2019

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 07662517

Last Known Address: 36 Kings Road,, , , , HORSHAM, RH13 5PR

Conduct: Between 3 February 2016 and 11 February 2016 Matthew Charles Nagy (“Mr Nagy”), failed to ensure that Oysterworld Ltd (“Oysterworld) provided accurate documents to a loan company in respect of a loan application. In that:

  • On 3 February 2016, he on behalf of Oysterworld contacted the loan company with the intention of obtaining a loan. He submitted amended electronic bank statements for 2 bank accounts; Bank C covering the period of December 2015 to January 2016 and Bank B for the period of September 2015 to November 2015.
  • On 8 February 2016, he submitted further amended copies of electronic bank statements for Bank C covering the period of November 2015 to January 2016 and for Bank B covering November 2015 to December 2015.
  • Entries on Bank C’s electronic bank statements for the specified period were edited to disguise dishonoured payment charges totalling £795, inflated Oysterworld’s income by £77,612 and disguised payments made to connected parties as expenses of at least £114,000.
  • Entries on Bank B’s electronic bank statements for the specified period were edited to disguise dishonoured payments totalling £46,109 and unpaid item charges totalling £24, inflated or disguised Oysterworld’s actual income by at least £611,647 and disguised payments made to connected parties as expenses of at least £467,800 during the period.
  • On 11 February 2016 he completed and submitted a loan information form for the loan company and further, and in support of the loan application informed the loan company that Oysterworld had been awarded a £1.5 million government funding grant. On the same date he provided the loan company with a copy of the letter of offer of the funding purportedly issued to Oysterworld by the government agency. The government agency has confirmed that Oysterworld did not apply for funding grant nor was it awarded a funding grant.
  • On 12 February 2016, Oysterworld obtained a short term loan of £125,000 from the loan company. He signed the letter of offer for the loan dated 12 February 2016 on behalf of the company.
  • The loan schedule details 12 monthly repayments of £12,745.90, with the first repayment commencing in March 2016, payable by the 11th day of each month. The first monthly repayment for the loan of £12,745.90 was made on 22 March 2016. The last repayment was due on 11 February 2017. Two further repayments of £12,745.90 each were made on 11 April 2016 and 27 May 2016, respectively. The company defaulted the monthly payment due on 11 June 2016 and all subsequent instalments. The loan was outstanding at Administration and is currently outstanding at £89,203. 

    This information is correct as at 23 / 7 / 2019



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