Director Ban – Bounce Back Loan

Sami Mahfouz, Director of Glut Ltd, Begins 11-Year Ban for Obtaining a £50,000 Second Bounce Back Loan

Sami Mahfouz, director of Glut Ltd, has been banned for 11 years starting today after fraudulently securing a second £50,000 Bounce Back Loan (BBL) despite being eligible for only one. The liquidator reported that Mahfouz failed to clarify the destination of the funds, and the company’s accountant provided no assistance in tracing the money, complicating efforts to resolve the possible misuse of the loan. […]

Kristyana Papa-Adams Gets a 9 Year Ban for Allowing Her Co-Director Blag a £48,750 Bounce Back Loan from Lloyds Bank by Over-Egging the Company Turnover (Papa Adams Ltd)

By allowing the overstatement of the company’s turnover on its application for a BBL, Mrs Papa-Adams allowed Papa to obtain a larger BBL than it was entitled to. […]

Isa Rafiq Hanif Banned for 10 Years by the Insolvency Service for Over-Estimating His Estimated Turnover used in a Santander Bounce Back Loan Application for Apex Active Fitness Limited

Isa Rafiq Hanif, director of Apex Active Fitness Limited, incorporated in 2019, received a 10-year ban from the Insolvency Service for inflating his company’s turnover to secure a Santander Bounce Back Loan. The sanction was imposed due to Hanif’s failure to provide detailed calculations or “workings-out” to support his turnover estimate, raising concerns about the accuracy of his application. […]

David and Charlemagne McLoughlin, Directors of OCD Ventures Ltd, Receive 7-Year Bans for Misrepresenting Turnover to Secure £50,000 HSBC Bounce Back Loan

David and Charlemagne McLoughlin, directors of OCD Ventures Ltd, have been disqualified from acting as company directors for seven years following their failure to justify the estimated turnover figures used to obtain a £50,000 HSBC Bounce Back Loan. […]

The Former Director General of the Institute of Directors, Anna Daroy Banned for 10 Years Over Fraudulent Second Bounce Back Loan

Anna Daroy, formerly the Director General of the Institute of Directors, has been hit with a 10-year directorship ban for illegally securing a second Bounce Back Loan for her company, Globepoint Associates Ltd. The ban reflects the serious breach of loan regulations intended to support businesses. […]

You Are Beauty Ltd’s Giulia Muscara Banned for 11 Years Over False Turnover Claims Relating to a £50,000 Bounce Back Loan

Giulia Muscara, Director of You Are Beauty Limited, gets an 11-year directorship ban after falsely claiming a £250,000 turnover for 2019 to secure a £50,000 Bounce Back Loan. Her actual turnover was just £54,440. […]

REATCH Ltd Director Matt Bown Accepts 9-Year Ban for Inflated Turnover Claims and BBL Misuse

Matt Bown, director of REATCH Ltd, has agreed to a 9-year directorship ban to avoid court after exaggerating his company’s turnover to secure an HSBC Bounce Back Loan and top-up. He also misused the funds, breaching loan terms designed to aid businesses during tough times. […]

Karl Wilson Director of Castle Powder Coating Limited Banned for 9 Years After Inflating Turnover to Secure £50,000 Bounce Back Loan

Karl Wilson, director of Castle Powder Coating Limited, has been hit with a nine-year directorship ban after falsely inflating his company’s turnover to obtain a £42,000 Bounce Back Loan and an £8,000 top-up from Santander. […]

Chintan Rashmikant Parmar Director of Parmar Logistics Ltd Gets a 10-Year Ban for Falsifying Turnover to Obtain £45,000 Bounce Back Loan

Chintan Rashmikant Parmar, director of Parmar Logistics Ltd, has been banned from acting as a director for 10 years after exaggerating his company’s turnover to secure a £45,000 Bounce Back Loan. The fraud was uncovered following an HMRC investigation, which led to the company’s winding up in the High Court. […]

Karamjit Singh Panesar Director of Diamond Designs and Build Limited Slapped with a 10-Year Ban for Securing Duplicate £50,000 Bounce Back Loans

Karamjit Singh Panesar, director of Diamond Designs and Build Limited, has been banned for 10 years after fraudulently obtaining two £50,000 Bounce Back Loans—one from NatWest and another from Santander—for the same company. The Insolvency Service deemed his actions a deliberate misuse of the government’s loan scheme. […]