Two ticket tout companies run by Terry Shepherd - including The Online Ticket Exchange in Borough High Street - have been wound up in the High Court following an investigation by the Insolvency Service.
The Online Ticket Exchange and Ticketmate advertised tickets for pop and rock concerts, festivals and sporting events. TOTE used the trading styles of The Onlineticketshop (www.theonlineticketshop.com) and TheOnlineTicketExchange (www.theonlineticketexchange.com).
The Insolvency Service says that Ticketmate was heavily inter-linked to the other company.
In winding up the companies the court commented that the companies were effectively run by Terry Shepherd, a disqualified director, and were a repetitious operation of his previous companies which had failed with a combined deficiency to their creditors of £7,395,547.
The court noted that the firms had failed to supply many of the tickets it sold and had made "gross misrepresentations" as to their ability to supply tickets and their trading history.
The SFO website carries updates on its investigation into Xlcusive.