Fraudulent director banned for five years

The former boss of a fraudulent insurance brokerage has been banned from acting as a company director for five years, revealed a report.

It said Bruce Moralee Teasdale, of Rawdon, Leeds, ran The Management Company (London), which left an estimated 200,000 holidaymakers with worthless travel policies, as they had not been underwritten.

According to the report, the policies, worth approximately £1m in premium, falsely stated that they had been underwritten by Lloyd’s.

When Lloyd's found its name had been used fraudulently, it reported the company to the Department of Trade and Industry.

The Management Company was shut down in May 2001, said the report.

Teasdale ran several other companies: cardinal Health (Northern) Ltd, GA Hinks (Northern) Ltd, Scheme Management Services Ltd, Aquinas Commercial Ltd, and Toad hall Enterprises.