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Fraudulent trading

This topic has 1 reply, 2 voices, and was last updated 6 years ago by MikeLittle.

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December 13, 2019 at 3:58 pm #555869
salardehbashi
Participant
- Topics: 22
- Replies: 22
A question from ACCA’s technical article:
Which of the following may be found liable for fraudulent trading under IA 1986?
(1) Creditors
(2) Employees
(3) Shareholders
A (3) only
B (1) and (2) only
C (1), (2) and (3)
D (2) and (3) only
Mike, I couldn’t believe my eyes that the answer is C. I always thought creditors are the victim here!
December 14, 2019 at 10:19 am #555900
MikeLittle
Keymaster
- Topics: 27
- Replies: 23368
Any person that is knowingly involved in fraudulent trading, whatever their title, is a party to that activity and thus may be found liable
OK?
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