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. […]
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