Shakar Habib, 28, from Newham, London, was the sole director of Vista Training Solutions Limited, based in Newham, which provided training to students through enterprise schemes.
Habib had been the company's director since November 2015, until it went into liquidation in February 2020. The company worked with partner organisations to deliver apprenticeships across London and received most of its funding from the Education and Skills Funding Agency (ESFA) .
But when the business folded, an investigation by the Insolvency Service, working with ESFA, found that Habib could not account for nearly £3.5 million from the company's accounts and owed over £2.5million to ESFA.
Investigators discovered that Habib had failed to keep adequate company accounts - a legal obligation for company directors - and that records from April 2019 onwards were missing.
They were therefore unable to verify whether £3.5 million of payments from the company's bank accounts during its final year of trading were legitimate company expenses. The company's liquidator was also unable to account for £525,000 in assets due to lack of financial records. ESFA are continuing to work with the Insolvency Practitioner to support their investigations for potential recovery of money.
Marc Symons, Deputy Head of Investigations at the Insolvency Service, said:
Shakar Habib disregarded his legal duty to keep accounting records. But thanks to the joint working between ESFA and the Insolvency Service, he has been removed from the corporate arena for a substantial period.
His ban should be a stark warning to other rogue directors that we will act to protect the public from those who abuse taxpayers' money.
Andrew Thomas, Director, Finance and Provider Market Oversight (ESFA) said:
This successful outcome demonstrates that ESFA will take robust action and work with regulatory partners across government to hold individuals and organisations to account.
The Secretary of State for Business and Trade accepted a disqualification undertaking from Habib, and his 6-year ban began on 21 November 2023.
It prevents him from becoming involved in the promotion, formation or management of a company, without the permission of the court.
Background
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Shakar Habib is of London. His date of birth is May 1995
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Vista Training Solutions Ltd (company number 07891810)
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Persons subject to a disqualification order are bound by a range of restrictions.
