Creosote Incorporated (also known as Creosote Inc.) was a business corporation founded by Jeremiah Creosote in 2000. It's operations encompassed several industries, including agriculture, fishing, construction, tourism, retail, private security and brokerage. It's portfolio of diverse activities allowed it to secure numerous PFI contracts under the government of Tony Blair, especially in regional development projects. In 2008 Creosote Security Services were contracted to provide security for the Commonwealth Games.
The company became embroiled in a series of lawsuits from 2007 onwards, which harmed its reputation and saw it lose many valuable government contracts. It hit further financial troubles when its large investments in US based mortgage-backed securities imploded in the 2008 financial crisis, and it came under scrutiny by the FCA for hiding the extent of its debts and losses. An independent investigation by The Guardian found the company had been basing its expansions and acquisitions on enormous high-interest loans from Chinese banks, which had increased exponentially as Creosote attempted to keep himself afloat.
The corporation was put into administration by Mr Creosote in 2009 following the sale of its remaining productive assets. No legal action was taken against Creosote himself for the companies misdeeds, largely thanks to his formal distancing from the company through a series of technical changes to its ownership clauses after 2005. The Financial Conduct Authority and Crown Prosecution Service were jointly criticised in the UK press for failing to bring about any substantial legal action against Creosote and other individuals for the damning record of scandals and financial misconduct by the corporation.