
Director Banned for 12 Years for Fraudulent CBILS Loans with False Bank Statements

Directors who used Bounce Back Loans to fund side ventures face bans for misuse. […]
Three sole traders have been slapped with bankruptcy restriction orders lasting 7, 10, and 11 years for abusing the UK’s Bounce Back Loan scheme, designed to support businesses during the COVID-19 pandemic. The Insolvency Service uncovered that the individuals either overstated their business turnover to secure larger loans or misused funds for personal expenses, prompting severe penalties.
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A director’s banned 11 years for fudging turnover to grab a Starling BBL and funnelling it to a crypto firm. Check his dodge! […]
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