Khan was fired from doomed contractor shortly before its collapse in 2018
Former Carillion finance chief Zafar Khan has been banned from being a director for 11 years for his conduct at the doomed contractor.
Carillion had been the UK鈥檚 second biggest contractor and was working on 420 public sector contracts when it went bust in January 2018.
An Insolvency Service spokesperson said: 鈥淭he Insolvency Service, acting on behalf of The Secretary of State for Business and Trade, has accepted a disqualification undertaking from Zafar Iqbal Khan for 11 years for his conduct as a director of Carillion Plc.
鈥淎s the litigation against the remaining directors is ongoing, with a trial set to commence the week of 16 October 2023, the Insolvency Service is unable to comment any further.鈥�
According to the Insolvency Service, which announced the disqualification yesterday, Khan caused the company to 鈥渞ely on false and misleading financial information鈥� for the preparation of its 2016 accounts.
This resulted in the 鈥渕aterial misstatement of profits in relation to the performance of five major construction contracts鈥� worth a total 拢208.5m.
These jobs were Royal Liverpool University Hospital, Battersea Power Station, Aberdeen Western Peripheral Route, Midlands Metropolitan Hospital and Msheireb Phase 1B in Doha.
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It said Khan caused the business to make 鈥渕isleading鈥� market announcements in March and May of 2017, and to make a 拢54.4m dividend payment in 2016 which Carillion could not afford 鈥渋n view of its true financial performance鈥�.
Khan had been Carillion鈥檚 finance director for nine months when he was fired shortly before the firm鈥檚 collapse.
When he gave evidence to MPs in the aftermath of the company鈥檚 liquidation, he blamed its collapse on the firm鈥檚 long-term debt position, rather than problem contracts.
He also claimed he had been fired because he had 鈥渟pooked鈥� Carillion鈥檚 board with a financial update showing a decline in the company鈥檚 position.
Labour MP Frank Field, who was co-chair of the inquiry, described Khan as 鈥渉apless鈥� but said other directors of the firm appeared keen to set him up as the 鈥渇all guy鈥�.
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