
Santander Seizes Bounce Back Loan for Unverified Turnover, Ombudsman Dismisses Complaint

HM Government set up a very shady/seedy little scheme whereby anyone declined a business loan would be asked, by the bank that declined them, would they like their details passed over to one of three “Government approved portals” who may help them get a business loan. […]
A director has been banned for 3.5 years for various wrongdoings, including failing to provide records to verify the use of a £15,000 Santander Bounce Back Loan. The disqualification reflects potential misuse uncovered during liquidation.
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Colin Lowes’ seven-year ban follows the failure to provide accounting records, leaving liquidators unable to verify the legitimacy of a £50,000 Santander Bounce Back Loan. […]
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