7-Year Ban for Inflating Turnover to Fund Bounce Back Loan Lifestyle
BBL Blaggers
Three Sole Traders Face Lengthy Bankruptcy Restrictions for Bounce Back Loan 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.
[…]
BBL Blaggers
Indian Restaurant Director Banned for 7 Years for Using Bounce Back Loan for Personal Benefit
An Indian restaurant director has been banned for 7 years for transferring most of a Bounce Back Loan to personal accounts after HMRC wound up the company for unpaid taxes. The misuse of funds led to regulatory penalties. […]
BBL Blaggers
Andrew Drury and Keith Mason, AK Creation Limited Directors, Banned for 10 and 9 Years Respectively for Overstating Turnover to Secure £50,000 HSBC Bounce Back Loan
Directors caught channelling Bounce Back Loans to family members face Insolvency Service bans for misuse of funds. […]