The Analysis News & Opinions
Diamond trader is banned for falsifying sales invoices
The director of a diamond company has been disqualified for 11 years after falsifying high-end jewellery sales invoices worth $1.75m. Jan Maarten Asscher (56), of Roosendaal,
Holland, signed a disqualification undertaking and is banned from running limited companies for 11 years. He is joined by his fellow director, Mark
Timothy Walker (57), of Ware, who is banned for 9 years after he allowed the firm to produce the false sales documents. With over 70 years’ diamond-trading
experience between them, the pair are banned from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company. Clarity Diamonds was incorporated in
February 2014 to trade in wholesale diamonds. The company, however, entered into a creditors voluntary liquidation in June 2017, after it could not pay debts worth more than £1.2m. An investigation was launched into the
conduct of the directors and established that Jan Asscher had caused the company to falsify invoices relating to bespoke, diamond jewellery. The value stated on the invoices came to US$1.75m in total. The documents, which Jan Asscher
referred to as ‘holding invoices’, were generated with names and addresses that reflected neither the ultimate recipient nor the full value of the order. This meant liquidators could not trace the pieces to recover them for the benefit of creditors. Enquiries also revealed that Mark Walker had allowed the inaccurate documents to be produced. Marc Symons, deputy head of insolvent
investigations at the Insolvency Service, said: “Directors have a duty to maintain accurate records. In this case, the false invoices have resulted in outstanding debts to creditors of more than £1.1m. “These experienced diamond dealers
have received substantial bans, and this should serve as a warning to others who are remiss in their director’s responsibilities.”
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How can the industry change for the future?
The prospects of how important new technological advances can improve the future of the industry is a crucial industry looking forward, and it will be the subject of a major new study. CCRMagazine and Data Interconnect
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industry that technology is an essential part of the future, but our aspect of the economy can sometimes struggle to access all the options that is needs. “So issues such as best practice advice
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June 2019
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