Why have just one Bounce Back Loan when you can blag two, must have been the mindset of the Co-Directors named in todays case, ultimately though for their BBL wrongdoing they have just both started eleven-year disqualifications. […]
The two main things that led to this Company Director being given an 11 Year disqualification was over-egging his turnover to get a Bounce Back Loan and using it for personal benefit. […]
Two Sole Traders have just been hit with 11 year and 10-year Bankruptcy Restrictions Orders for the wrongdoing highlighted. One of them did pay a thrid party for applying for his BBL, and that application it as discovered, did misrepresent his Business trading position. That is worrying as I have previously reported that some SME’s admit to being threatened and intimidated by third parties who initially approached them posing as an “accountant” or “broker” and offering to apply for a bounce back loan for them for a percentage of the loans value. […]
No explanation was given by the Company Director named in this case as to what he spent his Company’s Bounce Back Loan on, for that and other BBL wrongdoing he is just starting an 11 year disqualification. […]
They are the easiest people for the powers that be to go after for Bounce Back Loan wrongdoing, those being the Company Directors who took out one of those loans, used it for personal benefit and not the benefit of the business then took the Insolvency route. That is what the Director in today’s case did and ended up with a 3-year 6-month disqualification when the wrongdoing came to light. […]
The Company Director in this case has just been disqualified for 11 Years, for the wronging highlighted, however it is interesting to note what is said about her over-egging of the estimated business turnover. […]
Taking the Insolvency route with a Bounce Back Loan still owing is always going to see great scrutiny being given to how the BBL was applied for and what it was spent on. The Company Director named in this case was found to have used a chunk of his Company’s BBL for personal benefit and as such got a 6-year disqualification. […]
The Company Director in this case had a business with a turnover that was worked out to be £12,340 but even though he was allowed, due to the business starting to trade in August 2019, to estimate the turnover, he got an 11-year disqualification for estimating the turnover was £190,241, and also not using it all for the benefit of the business. […]
Not only did the Company Director named in this case apply for and get a Bounce Back Loan by over-egging the turnover of his Company that wasn’t eligible for the loan, but he also made no attempt to explain where the funds went and subsequently was slapped with an 11-year disqualification. […]
Yet again it has been discovered that another Company Director as shown in this case has permitted all manner of wrongdoing with regard to a £50k Lloyds Bank Bounce Back Loan, which explains his 9-year disqualification. […]
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