BBL Abuse Punishment – Bounce Back Loan

Zahid Afzal Receives Suspended Sentence and Community Service for Fraudulently Securing Extra Bounce Back Loans

Zahid Afzal, a businessman operating Phone Bits Ltd and Phones Onn Ltd, has been handed a two-year suspended prison sentence and ordered to complete 300 hours of unpaid work. The penalty comes after he was found guilty of fraudulently obtaining three additional Bounce Back Loans for his companies, exploiting the government scheme designed to support businesses during the pandemic. […]

Shohid Ahmed Jailed for Two Years Over Fraudulent Bounce Back Loans, After Attempting to Shift Blame to Wife and Tenant

Shohid Ahmed, a 40-year-old businessman, has been sentenced to two years in prison for fraudulently obtaining Bounce Back Loans from Santander and Starling Bank. Ahmed deceitfully secured funds meant to support businesses during the COVID-19 pandemic, later attempting to deflect responsibility onto his wife and tenant.
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Insolvency Service Persists in Robust Campaign to Address Bounce Back Loan and Other COVID Loan Misconduct

The Insolvency Service ramps up its aggressive campaign to tackle Bounce Back Loan and other COVID loan misconduct, targeting fraudulent borrowers. […]

Why Are More Directors Being Banned or Jailed for Bounce Back Loan Fraud? Understand the Risks

Explore the surge in directors imprisoned for Bounce Back Loan fraud, detailing when, why, and how you could face jail for scheme abuses. […]

Detailed Guide to Bankruptcy and Debt Relief Restrictions for Sole Traders and Individuals, Including Bounce Back Loan Scheme Abuses

Learn about bankruptcy and debt relief restrictions for sole traders, with a focus on penalties for BBL misuse. Our guide has you covered. […]

The Consequences of Director Disqualification Under the 1986 CDDA or Accepted Disqualification Undertakings for BBL Wrongdoing

Facing a director disqualification? Our guide details the impacts under the 1986 CDDA and accepted undertakings, crucial for navigating penalties. […]