A fourth company director has been disqualified for their role in a scheme involving unauthorised banking transactions worth almost £14 million.
Daryl Dylan allowed unarranged overdrafts with Barclays Bank to be used to make transfers of more than £1.6 million from the accounts of Oldcocdt Ltd and Oldcostl Ltd in 2021.
Most of the transfers were to connected companies controlled by his half-brother, Scott Dylan, and associates.
Daryl Dylan failed to ensure the funds could be repaid to Barclays on demand, breaching the bank’s terms and conditions.
The 38-year-old, of Kilmainham Square, Dublin, was due to stand trial at the High Court in Manchester in late July. However, he signed a disqualification undertaking – a legally-binding agreement in which a director agrees to be disqualified and does not dispute certain facts – to end court action against them.
His seven-and-a-half year ban comes into effect on Friday 7th August. It prevents him from acting as a director and being involved in the promotion, formation or management of a company, without the permission of the court.
Scott Dylan, 42, is currently serving a 13-year disqualification after being described as “the driving force” behind the scheme.
Jack Mason, a well-known figure from the Manchester tech scene, has been banned as a company director until 2033.
Mason is a former CEO of Dreamr, which he co-founded with Mylo Kaye. The app developer went insolvent in 2019 owing hundreds of thousands of pounds to HMRC.
Mason subsequently co-founded Inc & Co, a disparate collective of digital businesses, with Scott Dylan and David Antrobus. Antrobus was recently disqualified for 10 years.
In 2021, Mason directed eight companies to move more than £12m through unauthorised Barclays bank overdrafts to companies controlled by Dylan and Antrobus: FT (OPS) Limited, now known as Oldcoft Ltd, Fresh Thinking Group Limited, and others.
Mason failed in his duties as director to prevent those unauthorised overdrafts, the Insolvency Service said.
The eight companies Mason directed – Oldcoa Ltd, Oldcob Ltd, Oldcc Ltd, Oldcod Ltd, Oldcoaab Ltd, Oldcoffb Ltd, Oldholdcoa Ltd and Oldopscoa Ltd – all went into compulsory liquidation in January 2022.
Scott Dylan, Antrobus and Mason were each sentenced to 22 months in prison in October 2024 for contempt of court after breaching freezing orders connected to the Barclays proceedings.
Scott Dylan served half of his sentence. Both Mason and Antrobus have civil warrants outstanding and have not served their sentences. Mason is said to be in Spain.
It has now been revealed that Daryl Dylan signed bank account application forms for Oldcocdt Ltd and Oldcostl Ltd, known at the time as C&D Transport Solutions Ltd and Six Ten Logistics Ltd, in late April 2021.
He named Scott Dylan as the primary contact for the accounts when signing the forms.
Four bank accounts were opened for the companies the following month and they were used for the first time in mid-July.
From then until September 2021, Daryl Dylan failed to adequately monitor their use.
He allowed unarranged overdrafts on the Oldcocdt Ltd accounts to be used to make net payments of £1,042,220, most of which were transfers to connected companies.
A further £586,454 in net payments were made from unarranged overdrafts on the Oldcostl Ltd account to a connected company.
Barclays secured freezing orders for the accounts on 24 September 2021 and demanded repayment of £1,056,970 from Oldcocdt Ltd and £600,114 from Oldcostl Ltd.
No repayments were made and the two companies entered liquidation in January 2022.
Antrobus, 39, and Mason, 36, were also declared bankrupt in October and August 2025.
Victoria Edgar, Chief Investigator at the Insolvency Service, said: “Acting as a company director comes with responsibilities which must be taken seriously.
“Daryl Dylan failed to exercise the standard of care, skill and diligence reasonably expected of a director responsible for the affairs of a company.
“We have now secured director disqualifications worth a combined 38 years against both Dylans, Antrobus and Mason, proving that civil sanctions are an effective tool against those who have so clearly demonstrated they are unfit to direct companies.”
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