
A FLOORING tycoon siphoned more than £600,000 from his failing firms and fled to Dubai leaving 25 staff on the dole.
Darren Gemmell has been banned from being a company director for nine years after a probe by the Insolvency Service.
They found he transferred £645,000 from Glasgow businesses Larry's Laminate Land and Robyn's Rug Gallery days before they collapsed with debts of more than £500,000. It was paid into his personal account in Dubai.
Gemmell, 36, then fled to his luxury flat on Jumeirah beach in the tax haven, where he also owns a property in the £7.2billion Palm development, while 25 staff turned up for work.
Insolvency experts Findlay Hamilton were left to try to get creditors their cash back.
The report says: "Those transfers were to his benefit and to the detriment of creditors."
After the DIY king fled in April 2005, one worker said: "We're sickened he is living it up in Dubai while we scrabble about looking for work."
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Showing posts with label DIY KING FLOORED. Show all posts
Showing posts with label DIY KING FLOORED. Show all posts
Saturday, 9 June 2007
Posted by Debtsgone LTD at Saturday, June 09, 2007 0 comments
Labels: DIY KING FLOORED
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