Sadly the Limited Company laws allow such behaviour. In my time of chasing Limited Company debt over many years, thousands of directors knowingly took money off customers before liquidating the company, and having debts of huge amounts. At one time, The Crown was preferential, so inevitably took anything left over when the dust settled.
There was a crook living near us, who had regular liquidated companies, and his wealth was derived from that, not by honest business. Huge house, Range Rover, Lexus, both daughters having fancy cars, and all a falsehood of success. He was eventually banned from being a Director, but his best chum, a local Accountant, stepped in as Director.
This is why I have a very jaundiced view of 'obvious' wealth. He was one. There were hundreds at it. He even mortgaged his father in law's house from under him without telling him.
