A businessman from Chesterfield has been banned from being a company director for six years.
David Pollard, 44, of Grampian Crescent, was disqualified after an investigation led by the Insolvency Service (IS).
Pollard was the director of TAG (Chesterfield) Limited and The Recovery Partnership Limited, which operated from Manchester and were wound up by the High Court in the public interest in May 2013.
IS investigators found Pollard inappropriately handled money.
They said he failed to separate the financial affairs of TAG (Chesterfield) Limited and The Recovery Partnership Limited so it was not possible to determine each company’s income and spending.
They also uncovered that he had held on to client funds after the companies were wound up and claimed duplicate fees.
Ken Beasley, of IS, said: “We will always look closely at individuals who hold themselves out to be financial professionals but who cannot be trusted to handle people’s money in a proper way.”