Fraudulent Trading in United Kingdom
Definition of Fraudulent Trading
In accordance with the work A Dictionary of Law, this is a description of Fraudulent Trading : Carrying on business with the intention of defrauding creditors or for any other fraudulent purpose, e.g. accepting advance payment for goods with no intention of either supplying them or returning the money. Such conduct is a criminal offence and the court may order those responsible to contribute to the company’s assets on a *winding-up.
See also wrongful trading.
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