High Court Closes Internet Ticket Tout Companies

Four companies that operated as ticket touts through internet websites, have been wound up in the High Court following an investigation by Companies Investigation Branch (”CIB”) of the Insolvency Service.

London Ticket Shop Limited, London Ticket Shop Szolgaltato Es Kereskedelmi Korlatolt Felelossegu Tarasarag and MLT Services Limited advertised for sale, tickets for pop and rock concerts, festivals and sporting events. The companies used the trading styles London Ticket Shop http://www.londonticketshop.co.uk and London Ticket Market http://www.londonticketmarket.com . As a result of the companies’ activities, there had been a considerable number of complaints from members of the public concerning the failure to receive tickets they had paid for in advance, resulting in significant media coverage.

Ticketout Limited was incorporated to provide a bank account for Ticket Tout Limited which had its bank facilities withdrawn. Ticket Tout Limited which is in liquidation with its affairs being dealt with by the Official Receiver, had also operated in a similar way as a secondary ticket agency.

The Court heard that Michael Rangos was behind the operation of the four companies wound up, although he attempted to conceal this involvement from the CIB investigation. The investigation found that tickets had been sold which the companies had not got or in some cases the tickets did not exist. Registrar Simmonds said he had read the evidence and was very satisfied that there had been a conspiracy to defraud the public and benefit the particular “gentleman” behind the companies.

Source: Insolvency Service (National)

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