Liquidator believes Nicholas Wickham’s Irish Gold and Silver Bullion Limited defrauded customers
The disqualification order, made under section 838 of the 2014 Companies Act, came in response to an application by Miles Kirby, the liquidator of the firm, which has an address at The Crescent, Monkstown, in south Co Dublin.
Mr Justice O’Moore said in his judgment that the liquidator’s investigations found Mr Wickham pooled customer funds, which should have been used to purchase precious metals as investments, with company money. This pooling enabled Mr Wickham to operate what Mr Kirby described as a Ponzi scheme over several years.
Mr Justice O’Moore said Mr Wickham’s payment of £310,000 to the liquidator, as part of the settlement, was “significant” but “nonetheless inadequate”, given the company’s deficit and the cost of the court proceedings. “Instead, the thrust of Mr Wickham’s submission is that he is left in a very difficult position as a result of the discovery of his dishonesty, and that his ability to support his son at college ‘will be impacted’.”
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