Payroll Boss Banned Over £2.7 Million Missing from Company Accounts
Jonas Stankevicius, director of S Jonas Solutions Limited, has been slapped with an eight-year ban after failing to keep proper company accounts during his short-lived payroll firm’s operation.
From Startup to Liquidation in Months
Stankevicius, who became sole director at just 1 (sic) in July 2018, launched S Jonas Solutions that same month in Doncaster. But within a few months, the company went into creditors’ voluntary liquidation by December 2018.
Millions in Payments Unaccounted For
The Insolvency Service’s probe revealed a staggering £2.73 million worth of payments from the company’s bank account between August and October 2018 that couldn’t be verified. Stankevicius failed to keep or hand over adequate accounting records, blocking investigators and liquidators from tracing the transactions.
Worse, tax authorities claim over £500,000 remains unpaid as a result of the missing records.
Eight-Year Ban Sends Warning to Rogue Directors
On 15 September 2020, Stankevicius accepted a disqualification undertaking. From 6 October 2020, he is barred from running or managing any company for eight years, unless the court permits otherwise.
Mark Bruce, Chief Investigator for the Insolvency Service, said:
“All directors must keep proper company accounts. Stankevicius ignored this duty and couldn’t explain where £2.7 million went in just two months.”
“His misconduct has caught up with him. This ban should warn other rogue directors that they too risk being kicked out of business for serious wrongdoing.”
