Short version: the Insolvency Service has banned Paul Jessup, ex-managing director of Strand Capital SA, from acting as a company director for nine years. Regulators found he misused money from Helvetica Investments Ltd, leaving a big gap in the fund’s accounts. If you follow financial governance or invest in funds, this case shows how director actions can lead to personal bans and bigger losses for investors.
Officials say Jessup took or redirected money from Helvetica Investments Ltd that should have been used for the fund and its investors. That misuse produced a significant shortfall — a gap between what should have been in the fund and what actually was. The Insolvency Service investigated and concluded his actions were serious enough to disqualify him from running or directing companies for nine years. That’s a strong enforcement outcome and sends a clear message to fund managers.
The facts are straightforward: a managing director’s duty is to act for the company and its investors. When funds are moved or spent in ways that harm the company or break those duties, regulators step in. Disqualification stops someone from holding director roles and can also affect professional reputation and future work in finance.
If you invest in funds or hold director roles, there are practical steps to take. First, check the public record: Companies House and the Insolvency Service publish disqualification orders and director details. That lets you confirm whether a manager has restrictions. Second, look closely at fund reporting. Regular, clear accounting and independent audits reduce the chance that problems go unnoticed. If audits are delayed or reports are vague, treat that as a red flag.
For directors: keep clear records and follow duties to the company and its investors. If you’re unsure about a payment or transaction, document decisions and seek independent legal or accounting advice. Disqualification cases often involve poor record-keeping or unclear authorisation of moves in and out of fund accounts.
For creditors and counterparties: a director disqualification can affect recovery options and the path of any insolvency. Follow official notices and communicate with insolvency practitioners handling a case. If you suspect misuse, report it to the regulator handling the company’s affairs — in the UK that would include the Insolvency Service or Companies House depending on the issue.
Finally, this case is a reminder that governance matters. Whether you run a fund, work in pharma business units, or invest in companies, asking simple questions about controls, audits, and director history can protect you from surprises. Stay alert, check records, and act quickly if something looks off.
Paul Jessup, the ex-managing director of Strand Capital SA, has been disqualified from serving as a company director for nine years. The Insolvency Service found him guilty of misusing funds from Helvetica Investments Ltd, leading to a significant financial shortfall and his subsequent disqualification.
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