The companies were uncovered by Dan Neidle of Tax Policy Associates in a report that highlights a worrying trend – fraudsters and fantasists registering fake businesses on Companies House, including those masquerading as banks, often using fabricated balance sheets to inflate their worth and trick unwitting customers into handing over their cash.
Nearby, another company, XYZ Investment Holdings Ltd (formerly Stallion Holdings Ltd), claims assets worth £7 billion and annual sales of £2.5 billion.
A year later, AR Worldwide Services Ltd was set up and successfully registered with the FCA as a small payments institution, listing Stallion Holdings Ltd as its first director.
Among them are 1 Stallion Limited, described as a financial and mining giant with an annual turnover of £12.5billion, e-bank Ltd, which purports to be a bank raking in £952million annually, and Avanttulo SA Ltd, an oil and gas company valued at £12.5billion in shared capital.
After reviewing the accounts of all the companies connected to the terraced house and the neighboring property, Neidle insists the accounts are fraudulent, citing a series of spelling mistakes and glaring red flags.
