Case details for Paul Thomas DOUGAN

Name: Paul Thomas DOUGAN

Name: DCR (Series 2) Limited

Date of Birth: 4 / 9 / 1969

Date Order Starts: 24 / 10 / 2022

Disqualification Length: 14 Years 0 Month(s)

CRO Number: SC533528

Last Known Address: 18 London Road,, , , , GLASGOW,, G1 5NB

Conduct: Paul Thomas Dougan (“Mr Dougan”) caused DCR (Series 2) Ltd (the “Company”) to fail to provide goods and services or to safeguard investor monies. He caused the Company to use money obtained from investors, which the investors were told would be used to finance wind turbine projects in Scotland, for other purposes, including to finance property development projects for connected companies. All investor funds received by the Company were sent to the bank account of its parent company. A large proportion of those funds were spent on related property projects for the parent company or other connected companies, to which the investors obtained no benefit. He caused the Company to mislead investors in the marketing of the bonds for the Company. The Company employed a third party to advertise the bonds for the Company, through email advertisement, claims in information memorandums and an article appearing in a political and cultural magazine. Investors were advised that their investments were (a) government protected; (b) bonds were assets backed; (c) that a security trustee had been appointed to safeguard investor’s interests; and (d) that insurance had been obtained from a reputable insurance firm. None of those assertions were correct. At liquidation investors of the Company were owed at least £4,322,000. From 25 April 2016 until 7 February 2017, he acted as a director of the Company whilst an undischarged bankrupt, in that: • He was made bankrupt on 10 august 2012. • His bankruptcy was annulled on 7 February 2017. • He was an undischarged bankrupt in England and Wales during the entirety of 2016 when the Company raised investment funds. 

This information is correct as at 6 / 10 / 2022

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