An insolvency practitioner has lost his licence to practice after being convicted of conspiracy to defraud creditors.
Sudhir Rishi, also known as George Rishi, who practised in Finchley, London was convicted of fraud on 31 March at Blackfriars Crown Court and had his licence removed the following day by the Insolvency Practitioners Association. The IPA is awaiting the certificate of conviction as sentencing was deferred by the judge, giving Rishi the opportunity to appeal.
Rishi had been practising for many years, originally with Cork Gully, and afterwards at his own firm, S Rishi & Co. President elect of the IPA Richard Long said: “Although Rishi has the opportunity to appeal, the nature of the charge was so serious, being conspiracy to defraud creditors that we moved to remove his licence immediately on being notified of the case by the Department of Trade and Industry. Should Rishi be successful in any appeal, he can reapply for a licence.”
