The bank accounts are also in his personal name, not the business's, and I believe he is a German citizen, not a UK citizen.
Well the good news for creditors that makes his LTD worthless. A court would find him personally liable for all losses and damages. Then again who knows if he has any funds. Hopefully his "lawyer" has informed him of complete personal liability (as in can lose everything he owns, personal assets, car, house, cash in bank, etc) and thus he is motivated to provide some transparency on what happens and what depositors can expect.
Rule No 1.
NEVER run any kind of currency exchange business using your own personal bank account.
And least of all one that requires compliance with anti money laundering regs and all the other requirements. Suicidal.
The amateurism involved in this operation amazes me.
What really amazes me is how ignorant & naive the people trading there were (including me)!