Here is a insight into the BBL related wrongdoing that led to the Director named being given his 10 year ban.
On 22 May 2020 Mr Abdullah Ozkisi (“Mr Ozkisi”) caused Fiesta Food Limited (“FFL”) to obtain a Bounce Back Loan (“BBL”) of £50,000 using overstated turnover figures, which resulted in FFL obtaining a BBL of an amount it was not entitled to.
In that:
- Under the BBL scheme, businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of its turnover.
- The turnover figure was self-certified by the applicant.
- The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover.
- FFL was incorporated on 21 December 2012.
- FFL’s accounts for the period ending 31 December 2019 show a turnover of £81,806.
- On 22 May 2020, Mr Ozkisi applied for a BBL of £50,000 on behalf of FFL declaring that its turnover for the calendar year 2019 was £210,000
- FFL received the BBL funds of £50,000 into its bank account on 22 May 2020.
- Total liabilities at liquidation/administration amount to £72,773 of which £51,044 relates to the amount owed in respect of the BBL.
