Director banned for illegally transferring £2.5mn assets

A DIRECTOR has been banned for 12 years after she illegally transferred assets worth £2.5 million to her father-in-law.

Pauline Muldowney, more commonly known as Pauline Gopee, was disqualified for 12 years on December 7, last year at the High Court of Justice.

A court order now bans Pauline Muldowney from directly or indirectly becoming involved, without its permission, in the promotion, formation or management of a company for 12 years.

Pauline was the sole formally appointed director of Pangold Investments Limited in March 2016 and a year later on April 27, 2017, a winding-up order was made against Pangold Investments.

Yet just four days before the company was going to be shut down by the courts, Pauline Muldowney caused Pangold Investments on April 23, 2017 to transfer property assets, with an estimated value of more than £2.5m, to her father-in-law Dharam Prakash Gopee for just £1.

However, not only was Dharam Gopee a disqualified director, the transfer also breached a restraint order from 2015 under the Proceeds of Crime Act 2002.

By transferring the properties, Pauline Muldowney facilitated her father-in-law to collect rent and deal with properties in which the company had an interest but this was a direct breach of the restraining order.

Dharam Gopee has since been jailed for 15 months having admitted to the courts in 2017 that he had breached the restraint order. He was also held in contempt of court.

On February 9, Dharam Gopee was jailed for an additional three and a half years due to offences connected to business activities of Pangold Investments and other companies now in liquidation between August 2012 and December 2016.