Bramley-based Macroloft Conversions Ltd, operating from Unit 3, Victoria Mills, Elder Road is accused by some customers of installing illegal loft conversions, and by others of demanding payments up-front for work they never completed.
The company, which records show had £500,000 worth of debts – with half owed to 78 creditors, and the rest to companies including the public purse – ceased to trade on July 16 and has since gone into creditors voluntary liquidation.
At the helm of the operation were co-directors Graham Smith, 33, of Stanley Drive, Roundhay, and Mark Stephen Bingham, 53, of Hough End Crescent in Bramley.
They are now connected with a firm known as 1st Call Conversions Ltd – which is registered as a non-trading company – located at Beeston Royd Industrial Estate.
Around 20 complaints have so far been logged against Macroloft Conversions Ltd with government advice service Consumer Direct, confirmed Paul Smith, principal officer at West Yorkshire Trading Standards.
And now officers say they are taking a closer look to decide whether it has been involved in "fraudulent activities".
Mr Smith said: "Effectively we are looking at a potential criminal offence by the directors of this company (Macroloft)."