STORY
A fourth company director has been disqualified for their role in a scheme involving unauthorised banking transactions worth almost £13.9 million, the Insolvency Service has announced. Daryl Dylan, 38, of Dublin, has accepted a seven and a half year director disqualification after agreeing not to contest allegations relating to his conduct as a company director.
The Insolvency Service said Daryl Dylan directed Oldcocdt Ltd and Oldcostl Ltd, formerly known as C&D Transport Solutions Ltd and Six Ten Logistics Ltd, which were used to move more than £1.6 million through unauthorised Barclays overdrafts during 2021. Most of the transfers were made to companies connected to his half brother, Scott Dylan, and his associates. Investigators said Daryl Dylan failed to ensure the money could be repaid to the bank on demand and did not adequately oversee the companies’ bank accounts.
The two companies entered liquidation in January 2022 after Barclays obtained freezing orders on the accounts and demanded repayment of more than £1.65 million. According to the Insolvency Service, no repayments were made.