Date of Birth: 30 / 9 / 1962

Date Order Starts: 1 / 1 / 2019

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 09272217

Last Known Address: The Annexe, Hill View, Pootings Road, Crockham Hill, , KENT, TN8 6SD

Conduct: Richard Stuart Fuller (“Mr Fuller”) caused Mamhead House And Castle Limited (“MHAC”) to put customers at unreasonable risk of loss in that he caused MHAC to continue to accept deposits from customers after January 2016, when he knew or should have known that MHAC was insolvent, without taking steps to safeguard those deposits. In the period 12 January 2016 to 21 September 2016, MHAC received payments from customers totalling £294,122 of which £204,850 remained outstanding at liquidation. In that:

  • At January 2016, 4 creditors had obtained County Court Judgments (“CCJ”) against MHAC for the total sum of £22,499. A further 2 CCJs were made against MHAC in March 2016 in the sum of £17,443. 3 of the CCJs in the sum of £21,231 remained unpaid at liquidation;
  • In January 2016 & May 2016, he admitted that MHAC could not afford to pay two of the CCJs for £16,115 and £10,455 respectively and entered into Time to Pay Arrangements in respect of these debts
  • MHAC’s bank statements show “Unpaid Item Fees” charged against MHAC’s account from October 2015 onwards, indicating that items were being returned unpaid due to insufficient available funds;
  • MHAC’s bank statements show “Stopped Cheque Fees” charged against MHAC’s account from July 2016 onwards, indicating that he was issuing cheques knowing that there were insufficient funds in MHAC’s account to meet cheques when presented for payment; despite this, MHAC continued to take deposits after this date.
  • In the period February 2016 to September 2016, MHAC incurred a net trading loss and was therefore trading at the risk of creditors;
  • MHAC entered into creditors voluntary liquidation on 03 November 2016 with 15 customers having claims for outstanding deposits totalling £204,850 which were paid after January 2016. 

    This information is correct as at 11 / 12 / 2018

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