Carillion’s former finance director sold nearly £800,000 of shares after retiring last year shortly before the firm’s collapse, according to evidence published by MPs. “He, more than anyone else, ought to know the merits of Carillion shares as a long-term investment in the light of his lengthy and lucrative tenure. Dumping the last of his shares at the first possible moment because he is – with his own money at least – ‘risk averse’. Carillion’s average net debt on a monthly basis increased from £41.8m in 2010 to £586.5m by 2016, Khan said. Khan and Adam were among former directors branded “delusional” by MPs after they gave evidence about the circumstances leading up to Carillion’s failure.

Source: The Guardian February 26, 2018 00:00 UTC