To those hoping to evade accountability for Bounce Back Loan Scheme fraud: You Can’t
The Fraud, Error and Recovery Bill, progressing through Parliament and expected to become law, is under debate in the House of Lords. Once enacted, it will grant the Covid Corruption Commissioner retrospective powers targeting BBL fraudsters, including:
- Property raids
- Bank account fund recovery
- Extended time for fraud investigations
The government has conclusively identified BBL fraudsters through detailed analysis of tax returns, self-assessments, and loan applications. The list of offenders is extensive. If you inflated your turnover or engaged in other fraudulent acts, your name is on it, and a decision has been made about your fate.
Stay tuned for details on the government’s plans. I’ll keep you informed, as I have for the past five years.
Don’t panic or act recklessly—your punishment may not be as severe as you fear, in fact, I just know that most of you will appreciate what the Government will offer you. If you’re struggling or in a dark place, my helpline is open as always.
– Mike