A conviction for fraud against a director (even assuming that the fraud conviction relates to the person acting as a director of the relevant company) does not mean that the company of which s/he is a director is automatically closed after such a conviction.Limited companies are separate legal entities from those who run and own them. There is nothing in law to prevent a director of a company who may have been convicted of fraud from acting as a director of a company or from forming a new company to carry on a business similar to, or even identical to, that of any other company providing he has not been disqualified from acting in the management of a limited company and is not personally bankrupt.A criminal court may disqualify a director under the Company Directors Disqualification Act 1986 at the time of a conviction for fraud. If a director has a conviction for fraud, and a company of which he is director subsequently enters formal insolvency, any misconduct may result in a disqualification which will prevent the director, without permission of the court, from acting as a director of any subsequent companies.