THE Directors of a Waltham Abbey firm which made nearly £500,000 from scamming car sellers have been banned from acting as company directors for seven years.
Jason Grech, 39 and Robert Denford, 22, from Ware operated Vehicle Connect UK Ltd from an address in Darby Drive for several years.
Vehicle Connect company reps would contact individuals who were advertising their cars for sale claiming they had found a buyer and would put them in touch for a nominal fee - usually between £99 and £130.
They would promise sellers that their deposit would be returned within seven days if their vehicles were unsold, but the "buyers" would never materialise and the victims found they were then unable to contact the company.
It is believed that up to 1,000 people were targeted by Vehicle Connect UK Ltd, whose annual turnover was £458,000.
After the Office of fair trading recieved hundreds of complaints from victims, the company was ordered to shut down its operations by judges at the high court.
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