A BUSINESSMAN has been banned from being a company director for seven years after he failed to reveal where more than £2 million from his failed firm had gone.

Mohammed Bux set up Bolton-based consumer electronics distribution business, Positive Connect Ltd, in May 2015.

But the following year he was jailed for 14 months after a court heard how he smashed into a car on Derby Street and injured a pedestrian after weaving in and out of traffic at up to 62mph.

It was the second time Bux had been caught driving dangerously.

In December 2018 liquidators were appointed after he voluntarily opted to wind up the business, of which he was the sole director.

But now 27-year-old Bux, of Beaconsfield Street, Bolton, is prohibited from running any other company until 2027 after he failed to deliver proper accounting records to the liquidators.

The last accounts they have for the company were from May 2017, 18 months before the business went bust.

In reaching a decision to bar Bux from holding a company directorship, The Insolvency Service states: “In the absence of adequate accounting records, it’s not possible to explain the purpose of payments made from PCL bank account between 18 January 2018 and 26 October 2018, totalling at least £2,298,141, or verify they were made in the ordinary course of business.”

They add that without accounting records they also could not establish the accuracy of £626,000 in debts shown on the firm’s Statement of Affairs, a document which gives an overview of a liquidated company’s assets and liabilities. And they could not establish Positive Connect’s liabilities for VAT or HMRC’s assessment that it is £45,346.