Here are the full details of this case.
On 10 June 2020 Robert Mozdzen (“Mr Mozdzen”) breached the terms of the Bounce Back Loan (“BBL”) Scheme by causing RM Haulage Ltd (“RMH”) to overstate its turnover on its application for a BBL resulting in the company receiving a BBL of £50,000 when he knew, or ought to have known, that RMH was only eligible for a loan of £8,531.
In that:
- The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application.
- RMH was incorporated on 22 April 2016.
- Mr Mozdzen declared on the company’s BBL application form an annual turnover of £270,000 for 2019, and consequently on 10 June 2020 RMH received a £50,000 BBL, the maximum amount claimable under the BBL scheme.
- Bank statements for the period 01 January 2019 to 31 December 2019 show total business income of £34,123.
- This would have meant the company was eligible to apply for a BBL of up to £8,531.
- The overstatement of turnover totalling £235,877 meant that RMH received £41,469 more than it was entitled to from the BBL scheme.
- At liquidation, RMH had liabilities totalling £64,806.45 of which £48,089.95 was owed to the bank in respect of the BBL.
