Fraudster Arck directors banned for 29 years

Kathryn Clark and Richard Clay have been hit with the bans - 14 years and 15 years respectively - by the Insolvency Service for mishandling over £7m of investment funds. Clark and Clay were Clay the directors of Arck, HD Administrators and Joyston Alternative Assets (Joyston 4). They last year pleaded guilty to three fraud charges by the Serious Fraud Office (SFO), and are currently awaiting sentencing after Clay made last minute accusations of illegality against the SFO's witnesses. Arck received investment money from individuals hoping to benefit from property development, but th...