Millionaire Daljit Kaur Dhillon From Sutton Coldfield Preyed On Those In Vulnerable Financial Positions

0

Her companies offered to protect the ‘equity’ for homeowners under the threat of having their homes repossessed but instead took charges out on them without explaining the fees being charged

A predatory businesswoman from Sutton Coldfield who made millions of pounds while preying on those in a perilous financial position has been barred from being a company director.

Daljit Kaur Dhillon, from Crown Lane, ran companies which offered financial assistance to people with mortgage arrears but clients complained that they were unaware of the exorbitant fees they charged and following an investigation by the Insolvency Service, the companies were wound-up in the High Court in September 2015.

Known by a variety of names, including Kareena Kapoor, Lisa Dhillon and Daljit Kaur, Ms Dhillon was the director of three companies: Repossession Management Bureau Ltd, RMB Assets Ltd and OM Payments Ltd.

Millionaire Daljit Dhillon of Crown Lane in Four Oaks has been banned from being a company director after her mortgage support businesses are said to have ‘mislead customers’ (Image: Google)
The companies targeted people facing the threat of having their homes repossessed and under the guise of ‘protecting’ the equity, they would take out a charge on the properties.

However, the companies failed to adequately inform clients of the amount of fees being charged or that the charge secured the indebtedness of the client.

And when the property was sold, the companies would use the charge to extract ‘grossly excessive’ fees for which no record was maintained to support the amount of work that had purportedly been undertaken.

In addition, The Insolvency Service said there was a ‘lack of transparency’ in that representatives of the companies used false names, which prevented clients from determining who they were dealing with.

Investigators found that Repossession Management Bureau and RMB Assets, both based at The Fort, held charges worth just under £4 million over properties belonging to 97 clients.

Together, the two companies had a trade income of more than £1.2 million of which just over £1.1 million was paid out for the benefit of Daljit Dhillon. The companies were also found to have charged VAT on invoices despite submitting nil VAT returns to the authorities.

They also found the companies were formed after a previous business, Red2Black Ltd, ceased trading following an investigation by another government agency .

This investigation led to the director of Red2Black, Gurpreet Singh Chadda, the former husband of Daljit Dhillon, being given a Final Notice and record fine of nearly £1m.

Daljit Dhillon was declared bankrupt in June 2016 on the petition of the Official Receiver as liquidator of the three companies, after she failed to repay £353,550 worth of void transactions back to the companies. As a result of further claims made in his capacity as liquidator, the Official Receiver has lodged debts of over £1.5 million in Ms Dhillon’s bankruptcy and has recouped a further £40,000 from a former sales agent.

The 42-year-old appeared at the High Court in Birmingham on September 13, where an order was made to disqualify her from being a company director for nine-and-a-half years. She was also ordered her to pay costs of £12,000.

Helen Morten, Deputy Official Receiver for the Insolvency Service, said: “Daljit Dhillon set out specifically to mislead members of the public who were in a vulnerable financial position for her own considerable personal gain. The court’s decision to disqualify her shows the seriousness with which this type of cynical financial service activity is viewed.”

Share.

About Author

Leave A Reply

error: Content is protected !!