Unfit credit lender stripped of licence

CF Consultants, run by Riaz Ali and his wife Shomaila, had previously given corporate and commercial financial advice to businesses but has now lost its consumer credit licence.

Officials from the Office of Fair Trading (OFT) took action against the Northampton firm after Mr Ali was found to be an undisclosed bankrupt and had given incomplete information in licence applications.

Although Mr Ali appealed against the OFT ruling, the decision was upheld partly because he had failed to cooperate with the official receiver.

He has been found guilty of breeching sections of the Consumer Credit Act and has been told he is unfit to hold a licence.