Icon Tower Infrastructure Ltd due diligence for synthetic identity fraud
Multiple breaches found. Letter of objection.
SDNP/24/01472/PA16
Letter of objection
Dear South Downs National Park Authority,
SDNP/24/01472/PA16
I am writing to express my strong objection to the planning permission sought by Icon Tower Infrastructure Limited for the proposed telecommunications project in Rottingdean. My objection is based on serious concerns regarding the integrity and trustworthiness of Icon Tower Infrastructure Limited as a company.
Upon reviewing the details of the planning application submitted by Icon Tower Infrastructure Limited, it has come to my attention that the company's directors have been implicated in identity fraud. This is deeply troubling and raises significant doubts about the company's credibility and reliability.
As a concerned resident and stakeholder in the community, I firmly believe that granting planning permission to a company associated with individuals involved in fraudulent activities poses a serious risk to the welfare and safety of our community. Allowing such a company to undertake a telecommunications project in our area could potentially expose residents to further risks and uncertainties.
Moreover, it is imperative to ensure that companies operating within our community uphold the highest standards of ethical conduct and integrity. Granting planning permission to a company with a tarnished reputation for fraudulent activities would send the wrong message and undermine public trust in the planning process.
Therefore, I respectfully urge the relevant authorities to thoroughly investigate the allegations of identity fraud against Icon Tower Infrastructure Limited's directors before making any decisions regarding the planning permission for the proposed project. The safety, security, and well-being of our community should always be the top priority, and we must not compromise on these principles.
Thank you for considering my objections. I trust that you will carefully review the concerns raised and take appropriate action to uphold the best interests of our community.
Sincerely,
Alison Wright
Due Diligence Executive Summary:
This report scrutinises corporate governance issues surrounding Icon Tower Infrastructure Ltd, linked to Radius Global Infrastructure Inc, in their proposal to erect a telecommunications tower. The investigation uncovers discrepancies in key officers' appointments, including Thomas David Evans, Scott Garland Bruce, Richard Irwin Goldstein, and Scott Emil Langeland, indicating potential breaches of the Companies Act 2006 and synthetic identity fraud.
Of particular concern is Thomas David Evans' multiple unique identifiers across various companies, suggesting an attempt to obscure interests from auditors and due diligence checks. Similar patterns are observed with Scott Garland Bruce, Richard Irwin Goldstein, and Scott Emil Langeland. Additionally, AP WIRELESS (UK) LIMITED, exerting significant control over Icon Tower Infrastructure Ltd, exhibits irregularities in charges and a lack of registered active persons with significant control.
The report emphasises the necessity for comprehensive investigations and corrective actions to address governance lapses, uphold regulatory compliance, and protect stakeholder interests. Furthermore, it highlights the lack of clarity in the tower proposal, with key information redacted, necessitating detailed specifications for residents to assess potential impacts on frequencies, power ranges, and other crucial factors. Failure to address these issues risks regulatory scrutiny, reputational damage, and financial risks. Implementing robust governance practices and enhancing transparency are crucial to ensuring accountability and maintaining trust within the business community.
Due Diligence Introduction:
The proposal to erect a 20m high telecommunications lattice tower, along with supporting antenna headframes and ground-based equipment cabinets, within the South Downs National Park, has been submitted by Icon Tower Infrastructure Ltd (Icon Tower). Despite the importance of the project, crucial details remain redacted, leaving stakeholders in the dark about the specifics. This report aims to shed light on the directors of Icon Tower, who wield significant control over the project, despite the undisclosed specifications. As an entity owned by Radius Global Infrastructure Inc (Radius), understanding the backgrounds and potential implications of Icon Tower's directors is paramount for informed decision-making and regulatory compliance.
The cover letter from Icon Tower Infrastructure Ltd application to erect a 20m high telecommunications lattice tower supporting antenna headframes, plus ground-based equipment cabinets, in the South Downs National Park, which will host a variety of operators, is copied below:
What is evident is that we are being asked to agree to a project about which most of the details have been redacted.
Focussing on who has submitted this proposal:
“Icon Tower Infrastructure Ltd (Icon Tower) is a UK company owned by Radius Global Infrastructure Inc (Radius).”
The Overview of this company as provided in Companies House provides the following information: (ICON TOWER INFRASTRUCTURE LIMITED overview - Find and update company information - GOV.UK (company-information.service.gov.uk)).
Icon Tower Infrastructure Ltd., previously known as Radius BTS Ltd. and AP Mast Site Management Ltd., is a private limited company registered in the UK under company number 11114036. Its registered office is located at First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY. The company's status is active, and it was incorporated on 15 December 2017.
Icon Tower Infrastructure Ltd. primarily operates in the field of real estate, specifically under the Standard Industrial Classification (SIC) code 68209, which encompasses the letting and operating of own or leased real estate.
The company's next accounts are due to be filed for the year ending 31 December 2023, with the deadline set for 30 September 2024. The last set of accounts filed were for the year ending 31 December 2022. Additionally, the next confirmation statement is due on 14 December 2024, with the previous statement dated 14 December 2023.
The officers details (ICON TOWER INFRASTRUCTURE LIMITED people - Find and update company information - GOV.UK (company-information.service.gov.uk)):
By clicking on each name the appointments held by this identity are listed. The appointments for the officers are reproduced below;
Thomas David EVANS personal appointments
Thomas David Evans, who holds the role of Secretary, has been serving in this capacity since the company's incorporation on 15 December 2017. The correspondence address for the company is First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY.
Scott Garland BRUCE personal appointments
Scott Garland Bruce serves as a Director for Icon Tower Infrastructure Ltd. (appointed on 23 June 2021). He is also a Director in the following active companies:
AP Wireless II (UK) Limited (appointed on 30 March 2012).
AP Wireless (UK) Limited (appointed on 18 November 2011).
CELL:CM (Saltire) Limited (appointed on 24 May 2018, resigned on 5 April 2023).
CELL:CM Ltd (appointed on 24 May 2018, resigned on 5 April 2023).
Scott Garland Bruce is associated with the following addresses:
First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY.
16-18, Conduit Street, Lichfield, Staffordshire, England, WS13 6JR (correspondence address).
16-18, Conduit Street, Lichfield, England, WS13 6JR (correspondence address).
Suite A, Deanway 2, Deanway Business Park, Wilmslow Road, Handforth, Wilmslow, England, SK9 3HW.
Thomas David EVANS personal appointments
In addition to his role as Secretary of Icon Tower Infrastructure Limited, Thomas David Evans is also a Director, appointed on 15 December 2017, with an additional, separate identity (unique identifier). This is a breach of Section 1082 of the Companies Act. Thomas David Evans and is also listed in the following active companies:
AP WIP Investments Borrower UK Ltd (appointed on 3 May 2023).
APW UK Datadas Limited (appointed on 22 September 2021).
APW UK WIP Limited (appointed on 22 September 2021).
APW UK Switch Limited (appointed on 22 September 2021).
APW UK Tower Holdings Limited (appointed on 21 September 2021).
APW UK Arcco Limited (appointed on 21 September 2021).
Horton Investments Ltd (appointed on 25 September 2017).
He has also served as a Director for the dissolved company Viris Brand Ltd (appointed on 25 June 2021). Additionally, Thomas David Evans previously held directorship positions in CELL:CM (Saltire) Limited (resigned on 5 April 2023) and CELL:CM Ltd (resigned on 5 April 2023), where he also served as a Company Secretary.
In addition to the address 16-18, Conduit Street, Lichfield, England, WS13 6JR, Thomas David Evans is also associated with the following addresses:
Woodland Lodge, Dunston Business Village, Dunston, Stafford, United Kingdom, ST18 9AB.
First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY.
Hanover Court, 5 Queen Street, Lichfield, Staffordshire, United Kingdom, WS13 6QD.
Suite A, Deanway 2, Deanway Business Park, Wilmslow Road, Handforth, Wilmslow, England, SK9 3HW.
Richard Irwin GOLDSTEIN personal appointments
Richard Irwin Goldstein is a Director of Icon Tower Infrastructure Limited. He was appointed to this role on 3 May 2023. His correspondence address is First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY. Richard Irwin Goldstein is an American national and resides in the United States.
Scott Emil LANGELAND personal appointments
Scott Emil Langeland is a Director of Icon Tower Infrastructure Limited. He was appointed to this role on 3 May 2023. His correspondence address is First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY. Scott Emil Langeland is an American national and resides in the United States. His occupation is listed as Company Director.
Test for multiple unique identifiers, a breach of Section 1082 if the Companies Act 2006
In the process of investigating potential synthetic identities, it's crucial to acknowledge inherent limitations. For instance, in our examination of Thomas David Evans, while we've conducted thorough searches based on known addresses, three names, and date of birth, it's essential to recognise that this approach may not capture all potential identities.
One notable limitation is the possibility that Thomas David Evans may be registered as a secretary at an address not included in our search. Additionally, identities under variations of his name or with different dates of birth might remain undetected.
Given these constraints, it's imperative to approach our investigation with caution and consider the necessity for further measures to ensure a comprehensive understanding of potential synthetic identities associated with Thomas David Evans or any other individual under scrutiny.
We are already aware that Thomas David Evans holds two unique identifiers, one which solely holds his appointment as a secretary of Icon Towers Infrastructure Limited, and another which holds his appointment as a director of the same company, and in addition appointments to a further 10 companies, as described above.
A search on his name reveals that he has many more unique identities registered:
Thomas David Evans - Find
On the first page of the search results, there are evidently ten identities (unique identifiers) for Thomas David Evans, born February 1980 that are associated by variations of the same address, 16-18, Conduit Street, Lichfield, Staffordshire, WS13 6JR. These are marked with a red line, in the image above. These identities will be scrutinised later.
The second page reveals more identities that use the same three names and an address that is associated with the identity that Thomas David Evans uses for his appointment to Iconic Towers Infrastructure Limited, which are described above.
On the second page there are four further identities for Thomas David Evans. With a total of fourteen unique identities Thomas David Evans requires investigating for synthetic identity fraud.
Essentially with these multiple identities interests are concealed Thomas David Evans from auditors and from due diligence checks to fulfil anti-money laundering and counter-terrorism financing legislation.
Scott Garland BRUCE - Find
Scott Garland Bruce holds three distinct identities in Companies House records.
Identity 1 is associated with AP WIP INVESTMENTS BORROWER UK LTD (14844088), an active company with its correspondence address located at 16-18, Conduit Street, Lichfield, Staffordshire, England, WS13 6JR. Bruce serves as a director, appointed on 3 May 2023.
Identity 2 holds five appointments, including director roles in active companies such as APW UK DATADAS LIMITED (13637190), APW UK WIP LIMITED (13637323), APW UK SWITCH LIMITED (13637807), APW UK TOWER HOLDINGS LIMITED (13634971), and APW UK ARCCO LIMITED (13634921). These companies also share the same correspondence address at 16-18, Conduit Street, Lichfield, England, WS13 6JR. Bruce, an American national residing in the United States, holds these positions.
Identity 3 is the one we previously encountered, associated with various appointments, including to Icon Tower Infrastructure Limited, and holds the same correspondence address at First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY.
Richard Irwin GOLDSTEIN - Find
These identities have the appointments held by each additional identity inserted, below:
1. Richard Irwin GOLDSTEIN
Total number of appointments 5 - Born February 1961
16-18, Conduit Street, Lichfield, England, WS13 6JR
APW UK DATADAS LIMITED (13637190)
Company status Active
Role ACTIVE Director Appointed on 22 September 2021
Company status Active
Role ACTIVE Director Appointed on 22 September 2021
APW UK SWITCH LIMITED (13637807)
Company status Active
Role ACTIVE Director Appointed on 22 September 2021
APW UK TOWER HOLDINGS LIMITED (13634971)
Company status Active
Role ACTIVE Director Appointed on 21 September 2021
y Director
APW UK ARCCO LIMITED (13634921)
Company status Active
Role ACTIVE Director Appointed on 21 September 2021
2. Richard Irwin GOLDSTEIN
Total number of appointments 1 - Born February 1961
16-18, Conduit Street, Lichfield, Staffordshire, England, WS13 6JR
AP WIP INVESTMENTS BORROWER UK LTD (14844088)
Company status Active
Role ACTIVE Director Appointed on 3 May 2023
3. Richard Irwin GOLDSTEIN
Total number of appointments 1 - Born February 1961
First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY
ICON TOWER INFRASTRUCTURE LIMITED (11114036)
Company status Active
Role ACTIVE Director Appointed on 3 May 2023
4. Richard Irwin GOLDSTEIN
Total number of appointments 2 - Born February 1961
16-18 Conduit Street, Lichfield, Staffordshire, England, WS13 6JR
AP WIRELESS (UK) LIMITED (07853560)
Company status Active
Director Appointed on 8 January 2020
AP WIRELESS II (UK) LIMITED (08013103)
Company status Active
Role ACTIVE Director Appointed on 8 January 2020
The existence of multiple identities associated with Richard Irwin Goldstein raises concerns regarding compliance with the Companies Act and transparency in corporate governance. Each identity is linked to various directorial roles across different companies, indicating a potential breach of regulatory requirements.
These identities not only complicate the oversight of Goldstein's directorial responsibilities but also raise questions about the accuracy and reliability of corporate records and financial disclosures. Such discrepancies could impact the integrity of past accounts and audits and hinder effective due diligence processes.
To ensure regulatory compliance and uphold transparency and accountability in corporate practices, thorough investigations and appropriate corrective actions are warranted. Regulatory authorities and stakeholders should address these issues promptly to mitigate potential risks and safeguard the interests of shareholders and the broader business community.
Scot Emil Langland
A search for identities of Scott Emil Langeland locates two unique identifiers. The associated company information has been added below.
Total number of appointments 1 - Born December 1978
First Floor Suite B Adamson House, The Towers Business Park, Didsbury, Manchester, M20 2YY
ICON TOWER INFRASTRUCTURE LIMITED (11114036)
Company status Active
Role ACTIVE Director Appointed on 3 May 2023
Total number of appointments 1 - Born December 1978
16-18, Conduit Street, Lichfield, Staffordshire, England, WS13 6JR
AP WIP INVESTMENTS BORROWER UK LTD (14844088)
Company status Active
Role ACTIVE Director Appointed on 3 May 2023
Conclusion:
The discovery of two unique identifiers associated with Scott Emil Langeland highlights potential discrepancies in corporate governance and regulatory compliance. Langeland's involvement as a director in multiple companies raises concerns about the accuracy and transparency of corporate records.
The existence of multiple identities for Langeland could complicate oversight and due diligence processes, impacting the reliability of financial disclosures and the integrity of past accounts and audits. This situation underscores the importance of robust regulatory oversight and diligent corporate governance practices to ensure transparency and accountability in business operations.
Addressing these discrepancies and ensuring compliance with regulatory requirements is crucial to maintain trust and confidence among stakeholders. Regulatory authorities and relevant stakeholders should investigate these issues thoroughly and take appropriate corrective actions to uphold the integrity of the corporate ecosystem and protect the interests of shareholders and the broader business community.
ICON TOWER INFRASTRUCTURE LIMITED persons with significant control
The details of the person with significant control of Icon Tower Infrastructure Limited was accessed via the tab in the People section of Companies House.
The Ap Wireless (Uk) Limited holds significant control over its operations, with ownership of 75% or more of shares and voting rights, as well as the right to appoint or remove directors. This information provides insight into the structure and governance of the company, enabling stakeholders to assess its influence and potential impact on decision-making processes and corporate governance.
A search for this company returns two companies with very similar names that are registered at the same address. The similarity of these names is a risk that clone company fraud might be being facilitated. These are marked with a red line:
07853560 - Incorporated on 18 November 2011
16-18 Conduit Street, Lichfield, Staffordshire, England, WS13 6JR
08013103 - Incorporated on 30 March 2012
16-18 Conduit Street, Lichfield, Staffordshire, England, WS13 6JR
Due diligence on each of these companies is appropriate.
AP WIRELESS (UK) LIMITED people
In summary, the directors of this company are the same as for Icon Tower Infrastructure Limited with the addition of Daniel John HASSELMAN who holds this as his sole appointment in this identity (Daniel John HASSELMAN personal appointments - Find and update company information - GOV.UK (company-information.service.gov.uk).
A test for multiple identities was conducted:
The additional director of Ap Wireless (Uk) Limited is Daniel Hasselmann. He has three identities that are linked with the same address.
Daniel John HASSELMAN Total number of appointments 5 - Born March 1979 16-18, Conduit Street, Lichfield, England, WS13 6JR
Daniel John HASSELMAN Total number of appointments 1 - Born March 1979 16-18 Conduit Street, Lichfield, Staffordshire, England, WS13 6JR
Daniel John HASSELMAN Total number of appointments 1 - Born March 1978 16-18 Conduit Street, Lichfield, Staffordshire, England, WS13 6JR.
Note that the third identity has a different year of birth and the address of the first identity are differently written to the other two identities. As a systems engineer I am aware that errors like this cause false non match errors in due diligence and audit software.
The presence of multiple identities associated with Daniel John Hasselmann, with variations in details such as the date of birth, underscores the need for meticulous attention to detail in corporate records and due diligence processes. Such discrepancies can introduce complexities and potential errors in audits and due diligence assessments.
These variations could lead to false non-match errors in due diligence and audit software, potentially compromising the accuracy and reliability of financial disclosures. Furthermore, discrepancies in directorial identities could obscure the true extent of directorship interests and potential conflicts of interest, hindering effective oversight and risk management.
To mitigate these risks, it's crucial for organisations to implement robust data verification processes and ensure consistency in the recording of directorial information. Additionally, auditors and due diligence practitioners should exercise heightened diligence when reviewing corporate records, cross-referencing data to identify and rectify any discrepancies.
Addressing these issues promptly and comprehensively is essential to uphold the integrity of corporate governance practices, maintain regulatory compliance, and safeguard the interests of stakeholders and the broader business community. Failure to do so could expose organisations to regulatory scrutiny, reputational damage, and financial risks.
The interests held in these identities require further analysis, not included here.
Charges for AP WIRELESS (UK) LIMITED (07853560)
The AP WIRELESS (UK) LIMITED, registered under company number 07853560, has a total of 5 charges, with 1 outstanding, and 4 satisfied. The outstanding charge, created on 9 November 2017 and delivered on 13 November 2017, remains active and is associated with Glas Trust Corporation Limited. This charge contains a fixed charge, although further details on the nature of the charge are not provided. The satisfied charges were all associated with Deutsche Bank Trust Company Americas.
Due diligence on Glas Trust Corporation Limited is required.
The records for Glas Trust Corporation Limited were located in a search in Companies House (Glas Trust Corporation Limited - Find).
Glas Trust Corporation Limited is an active private limited company based in London, England. Its primary business activity is categorised under SIC code 66190, which includes activities auxiliary to financial intermediation not elsewhere classified.
Glas Trust Corporation Limited was incorporated on 27 January 2012 and has undergone a name change from GLOBAL LOAN SERVICES NOMINEES LIMITED, reflecting a shift in its business focus or corporate structure. The company's registered office address is located at 55 Ludgate Hill, Level 1, West, London, England, EC4M 7JW.
Given its involvement in financial intermediation activities, Glas Trust Corporation Limited likely plays a role in managing financial assets, holding charges, or acting as a trustee for various financial arrangements. Further investigation into its financial stability, track record, and any potential conflicts of interest is advisable to understand its role in the outstanding charge against AP WIRELESS (UK) LIMITED and its implications for the company's financial affairs.
AP WIRELESS (UK) LIMITED persons with significant control
0 active persons with significant control / 1 active statement
“The company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company”.
The person with significant control of Icon Tower Infrastructure Limited is given, in Companies House, as AP Wireless (UK) Limited and this company has no person with significant control registered. This is a contradiction with the statement in Icon Tower Infrastructure Limited’s cover letter, accompanying their application for a new telecommunications tower, which states that “Icon Tower Infrastructure Ltd (Icon Tower) is a UK company owned by Radius Global Infrastructure Inc (Radius).”
Referring to OpenCorporates for details of this company registered overseas
Referring to the record for RADIUS GLOBAL INFRASTRUCTURE, INC. :: Delaware (US) :: OpenCorporates:
The registry records for Radius Global Infrastructure Inc refers to The Corporation Trust Company as its agent and director.
The Corporation Trust Company has multiple unique identifiers breaching accountability requirements.
Further analysis is required.
Summary:
AP WIRELESS (UK) LIMITED, the entity with significant control over Icon Tower Infrastructure Limited, is associated with a total of 5 charges. Out of these, 4 have been satisfied, while 1 remains outstanding. The outstanding charge, linked to Glas Trust Corporation Limited, was created on 9 November 2017, featuring a fixed charge without detailed specifications. The satisfied charges were all attributed to Deutsche Bank Trust Company Americas.
However, according to Companies House records, AP WIRELESS (UK) LIMITED does not have any active persons with significant control registered. This contradicts the statement in Icon Tower Infrastructure Limited's cover letter, which identifies Radius Global Infrastructure Limited as the owner. Further investigation into the ownership and control structure of AP Wireless (UK) Limited is warranted.
Referring to OpenCorporates for details of Radius Global Infrastructure Inc, purported owner of Icon Tower Infrastructure Ltd, it is registered in Delaware (US). The registry records for Radius Global Infrastructure Inc indicate The Corporation Trust Company as its agent and director, raising concerns about accountability and transparency, particularly due to its use by multiple identities.
Conclusion:
Discrepancies in charges and significant control information for Icon Tower Infrastructure Limited and AP WIRELESS (UK) LIMITED, alongside conflicting statements regarding ownership, underscore potential issues in corporate governance and regulatory compliance. Further analysis and due diligence are imperative to grasp the ownership structure, control mechanisms, and accountability of AP Wireless (UK) Limited, as well as its relationship with Icon Tower Infrastructure Ltd and other related entities.
Prompt and comprehensive action is crucial to ensure transparency, regulatory compliance, and accountability in corporate operations. Failure to address these issues could subject the company to regulatory scrutiny, reputational harm, and financial risks. Therefore, thorough investigations and appropriate corrective measures are essential to mitigate risks and safeguard stakeholders' interests and the broader business community.
Overall Summary:
The application for the project involves agreeing to a proposal with redacted details, which is submitted by Icon Tower Infrastructure Ltd, a UK company owned by Radius Global Infrastructure Inc.
Icon Tower Infrastructure Ltd, previously known as Radius BTS Ltd. and AP Mast Site Management Ltd., is a private limited company registered in the UK since 15 December 2017. It primarily operates in the real estate sector under the Standard Industrial Classification (SIC) code 68209.
The company's officers include Thomas David Evans serving as Secretary and Director, Scott Garland Bruce and Richard Irwin Goldstein, both serving as Directors, and Scott Emil Langeland, also serving as a Director.
Thomas David Evans holds two unique identifiers, one as a secretary and another as a director of Icon Tower Infrastructure Ltd, which is a breach of Section 1082 of the Companies Act 2006. Additionally, he holds appointments in multiple other companies, with a total of fourteen unique identities, raising concerns about potential synthetic identity fraud.
Scott Garland Bruce, Richard Irwin Goldstein, and Scott Emil Langeland each have multiple unique identifiers associated with their names, indicating potential breaches of the Companies Act and raising questions about the accuracy of corporate records.
Furthermore, AP WIRELESS (UK) LIMITED, the entity with significant control over Icon Tower Infrastructure Limited, is associated with a total of 5 charges, out of which 4 have been satisfied, and 1 remains outstanding. The outstanding charge, linked to Glas Trust Corporation Limited, was created on 9 November 2017, featuring a fixed charge without detailed specifications. The satisfied charges were all attributed to Deutsche Bank Trust Company Americas.
Moreover, according to Companies House records, AP WIRELESS (UK) LIMITED does not have any active persons with significant control registered. This contradicts the statement in Icon Tower Infrastructure Limited's cover letter, which identifies Radius Global Infrastructure Limited as the owner. Further investigation into the ownership and control structure of AP Wireless (UK) Limited is warranted.
Conclusion:
The application raises significant concerns regarding transparency and compliance with the Companies Act 2006, particularly with regard to the appointment of Thomas David Evans under multiple unique identifiers. This raises red flags for potential synthetic identity fraud, concealing interests from auditors and due diligence checks.
The presence of multiple unique identifiers associated with these individuals highlights significant risks to corporate transparency and accountability. Thorough investigations and corrective measures are necessary to address potential breaches of the Companies Act and safeguard the integrity of corporate records and financial disclosures.
Regulatory authorities and stakeholders must take prompt action to mitigate these risks and uphold the trust and confidence of shareholders and the broader business community. By ensuring compliance with regulatory requirements and enhancing corporate governance practices, we can strengthen transparency and accountability in the corporate sector and protect the interests of all stakeholders involved.
To Do:
Test the accounts for completeness and plausibility: Conduct a thorough examination of the financial accounts associated with the companies mentioned in this report. Verify the accuracy and completeness of the financial information to ensure compliance with regulatory standards and to assess the financial health of the entities involved.
Analyse the appointments held in separate identities: Investigate the appointments held by the directors in their separate identities to gain insight into potential discrepancies or irregularities. Analyse the implications of these multiple identities on corporate governance, regulatory compliance, and transparency.
Assess for Related Party Transactions: Evaluate the relationships between the companies and directors involved in this significant linked directorate to identify any potential related party transactions. Investigate whether these transactions have been appropriately disclosed and accounted for in financial reports and whether they comply with regulatory requirements.
Comprehensive Due Diligence: Recognise that this report provides only a preliminary overview and scratches the surface of a full due diligence process. Further investigation and analysis are necessary to uncover the extent of the issues identified and to address any additional concerns regarding corporate governance, regulatory compliance, and financial integrity.
Audits Compromised of All Companies: Ensure that audits are conducted for all the companies associated with the directors mentioned in this report. Verify the accuracy and reliability of financial statements, assess internal controls, and identify any potential risks or discrepancies that may require further investigation or remediation.
By addressing these action items, stakeholders can gain a deeper understanding of the complex interrelationships and potential risks associated with the companies and directors involved in this significant linked directorate. This will facilitate informed decision-making, enhance transparency and accountability, and mitigate potential risks to stakeholders and the broader business community.