Former Arck bosses received £4m from failed scheme 'without explanation'

Arck was a UK based investment vehicle that was set up to develop and sell overseas based properties. The liquidator's report states that sums in excess of £63m passed through the business' main account. The report, seen by IFAonline, by joint liquidators Butcher Woods and Rendle & Co who were appointed in spring 2012, claims that Kathryn Clark received payments from Arck in excess of £580,000 for which she has not been able to provide an adequate explanation. Fellow former director Richard Clay received payments in excess of £3.6m, for which he similarly can not provide an adequate e...