Here are the details of this double BBL Blagger.
Daniel Willis (“Mr Willis”) caused Hickory Construction and Services Limited (“Hickory” or “the Company”) to act in contravention of the Government-backed bounce back loan (‘BBL’) scheme by applying for and obtaining a second BBL of £50,000 when prohibited from doing so.
In that:
- The terms of the BBL scheme were that the applicant company was entitled to one BBL of between £2,000 and a maximum of £50,000 based on 25% of the business’s turnover for 2019.
- Only one loan was available to businesses.
- On 07 May 2020 Mr Willis applied to Bank A for a BBL of £50,000 stating, that the turnover for Hickory was £2 million.
- The BBL funds were paid into the Company’s bank account with Bank A on 11 May 2020.
- On 11 May 2020 Mr Willis made a second application on behalf of Hickory to Bank B for £50,000, stating that the turnover for Hickory was £1.2 million.
- The BBL funds of £50,000 were received into the Company’s Bank B account on 18 May 2020.
- The Company was only eligible for one BBL and therefore obtained at least £50,000 more than it was entitled to.
- Hickory entered Creditors’ Voluntary Liquidation on 29 March 2022 At liquidation both BBLs remained outstanding
