Administrators called in to CD firm

PUBLISHED: 17:55 10 April 2008 | UPDATED: 21:15 26 October 2009

SFH (UK) in Hearle Way, Hatfield

SFH (UK) in Hearle Way, Hatfield

ADMINISTRATORS have been called into one of the largest CD brokerage companies in the UK following a year-long police investigation into a £5m music piracy racket. Joint administrators Greg Palfrey and Steve Adshead, from Smith and Williamson, are current

ADMINISTRATORS have been called into one of the largest CD brokerage companies in the UK following a year-long police investigation into a £5m music piracy racket.

Joint administrators Greg Palfrey and Steve Adshead, from Smith and Williamson, are currently going through the assets of Hatfield company SFH (UK) to see what can be salvaged for sale.

Mr Palfrey said: "We have been appointed to try and recover value from assets which will be distributed to creditors in the usual way.

"Investigations are ongoing.

"We will write to creditors once we know the full picture about the amount of money that we can realise for them.

"A husband and wife team involved in running SFH were jailed on April 2 in relation to a piracy ring costing the music industry an estimated £5m.

"We were appointed following a year-long investigation by the police and music industry into SFH.

"If assets cannot be retrieved, we will put the business into liquidation."

As reported in the WHT, Hatfield businesswoman Farhat Nissa, 35, and her husband Mohammed Shaikh, 38, of Finchley, North London, were jailed - for four-and-a-half years and a year respectively - after being convicted of conspiracy to defraud the music industry.

The business, in Hearle Way, was used as a front to import thousands of music CDs from factories in the Czech Republic.


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