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Britain’s Got Talent star banned over failed investment scheme
by Daniel Grote on Sep 06, 2013 at 08:18
Former TV talent show star Liam James Collins has been banned from directing a company for 14 years after the Insolvency Service found he had been misleading investors after promoting a property scheme promising 10% returns, according to the Daily Mail.
Collins (pictured) was a semi-finalist on Britain’s Got Talent in 2009 as part of dance duo ‘Faces of Disco’. He and business partner David Bone amassed £874,000 from investors for the ‘Collins and Bone’ property scheme, which purported to buy and renovate student accommodation, according to the paper.
The pair were declared bankrupt in May 2012, with debts amounting to £4.5 million each, and the Insolvency Service has now handed them 14-year bans.
Ken Beasley of the Insolvency Service’s public interest unit told the paper: ‘At a time when they were already heavily indebted Collins and Bone took substantial sums of money from members of the public with the promise of high returns on property investments with no reasonable expectation they would ever be able to meet the repayments promised to investors.’
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