It is the longest ban imposed on an executive of a listed company by the Insolvency Service in 60 years and is set to continue, as proceedings against several other Carillion directors are ongoing.

Formerly an accountant at EY, Khan joined Carillion’s senior finance team in 2011, before being promoted to CEO in August 2016.

Carillion, a major UK public sector supplier, collapsed in January 2018 with the loss of thousands of jobs, and a debt pile of £7bn. It  had wrongfully declared a pre-tax profit of £146.7m in its year end accounts for 2017, when it had actually lost £61.7m, showing a misstatement of £208.5m.

According to the Insolvency Service, Khan caused the company to rely on ‘false and misleading information’ during his tenure, and oversaw dividend payments of £54.5m to shareholders in June 2017, which could not have been justified if the company’s financial statements had given an accurate picture of its position.

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