Two former business associates, Scott Dylan and David Antrobus, have been banned from acting as company directors for a combined total of 23 years. They were found to have exploited the banking system by channelling over £13.9 million through company accounts using unauthorised overdrafts. Their actions led to significant financial losses and subsequent legal repercussions, including contempt of court charges and prison sentences.
Key takeaways
- Scott Dylan received a 13-year directorship ban, while David Antrobus was banned for 10 years.
- The pair allowed £13.9 million to pass through two companies funded by unauthorised overdrafts.
- Their actions resulted in Barclays Bank freezing company accounts and demanding repayment.
- Both individuals were previously sentenced to prison for breaching freezing injunctions.
Exploiting the banking system
In spring 2021, Scott Dylan and David Antrobus established bank accounts for two companies, Oldcoft Ltd and Old3 Ltd (then known as FT (OPS) Limited and Fresh Thinking Group Limited). Between mid-July and late September 2021, they facilitated the transfer of over £13.9 million into the Oldcoft Ltd current account, funded by unauthorised overdrafts from Barclays. During this period, substantial payments were made from this account, with Dylan personally receiving £1.675 million and nearly €1.8 million transferred to a family member for a purported hotel purchase in Turkey.
Legal consequences and bans
Barclays Bank secured freezing orders for the accounts in September 2021, demanding an explanation for the transfers and the whereabouts of the funds. Despite these orders, Dylan and Antrobus breached them by transferring a group of companies to entities in the British Virgin Islands without informing the bank. This defiance led to contempt of court proceedings. Dylan was sentenced to 22 months in prison in October 2024 for breaching court orders, and Antrobus received the same sentence in his absence.
The judge described their actions as "little short of a scam" with "no legitimate purpose" for the fund removals. The disqualifications, effective from Christmas Day, prohibit Dylan and Antrobus from forming, managing, or promoting companies without court permission, aiming to protect the public from such directorial misconduct. The Insolvency Service highlighted that these bans will prevent the pair from running companies for a significant period.
