A SOFTWARE developer has been disqualified after being found to have abused £850,000 worth of investments.

Adam Alexander Valdemar Norton was the director of Daresbury-based ANorton Holdings Limited and used the trading name ‘Volution Fit’.

The company, which has an operating address of Daresbury Park, was incorporated in September 2018 and provided virtual software and support to gyms and fitness clubs.

However, it went into administration in November 2020 before going into liquidation in August 2021, triggering an investigation by the Insolvency Service.

Investigators uncovered that Norton, from Salford, secured £849,999 worth of investments – provided in two tranches – to help develop a mobile application.

However, the 35-year-old received the investments into his personal bank account rather than into the company’s.

The software developer also provided false copies of bank statements to the investors, which incorrectly showed the bank account was held in the name of ANorton Holdings rather than his own.

The Secretary of State accepted a 12-year disqualification undertaking from Norton, in which he did not dispute he caused ANorton Holdings Limited to provide incorrect bank details and false bank statements on three separate occasions to an investment company for the purposes of obtaining funds.

Neil North, deputy head of insolvent investigations for the Insolvency Service, said: “This was a gross abuse of his investors’ trust, and Adam Norton has been removed from the corporate arena for a substantial amount of time.

“The software developer’s ban sends out a clear message that where a corporate vehicle is being used to facilitate actual or potential fraudulent activity, we will not hesitate to use our powers to remove dishonest or reckless directors from the business environment.”