The exact reason for the suspension has not been confirmed and Dev Malle, sales director of PTFS, refused to be drawn on the investigation. 

He said: “It is an internal matter and we cannot comment.”

Mike Fitzgerald, group sales director of the Emba Group, a network connected to PTFS, said he wished Wilson support.

He said: “I am unsure of the details, which makes it very difficult to speculate on the suspension. We just have wait and see but I hope he will be back. He is an honest and trustworthy man and I hope this problem passes quickly.”

Jonathan Cornell, communications manager at First Action Finance, agreed that Wilson was a man of integrity, adding that he had been a big player in the industry since co-founding PTFS in 1994.  

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He added: “I hope this problem blows over fast and that Martin can continue in the great work which he has done to build PTFS into the big network which it has become.” 

Wilson’s suspension is the latest in a series of problems to hit PTFS in 2009.

In August, it closed its secured loan brokerage, Needaloan, due to the difficult economic climate and a lack of funds in the secured loan market.

In October, Lee Birkett, ex-chief executive of liquidated network Prestbury, took legal action against PTFS over a collapsed deal which involved lost commissions for brokers.

Under the deal, Prestbury was to transfer all its appointed representatives (ARs) to PTFS and PTFS would pay their commission payments. However, difficulties transferring a number of the ARs led to legal action.

Birkett also refused to be drawn on the speculation surrounding the reason for Wilson’s suspension. He said: “I have no comment as legal proceedings are continuing.”