Having Seemingly Not Been Happy with the £12.5k Bounce Back Loan She Got From Barclays, Six Months Later She Scams a £50k BBL for the Same Company from HSBC, and Having Left Both Unpaid, That Company Director is Now Starting an 11 Year Ban

November 6, 2023 The Disqualification Files, Todays News

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An eleven year ban is what the Company Director named in this case is starting today for everything laid out below.

Ms Wanessa Carvalho (“Ms Carvalho”) caused Wanessa Carvalho Ltd (“WCL”) to apply for a Government backed Bounce Back Loan (“BBL”) of £50,000 that it was not eligible for, having obtained a previous BBL for £12,500 on 12 May 2020 from a different lender.

In that:

  • On 11 May 2020, Ms Carvalho applied for a BBL of £12,500 from Bank A on behalf of WCL which was paid into WCL’s bank account on 12 May 2020.
  • On 24 September 2020 a second BBL payment of £50,000.00 was paid from a different lender, Bank B, into VCL’s bank account held with them.
  • The BBL terms and conditions in respect of ‘Bank B’ required the applicant to self-declare that they had not made any other application for a Bounce Back Loan for the business.
  • Ms Carvalho falsely declared that VCL had not previously applied for and obtained a BBL with another lender. Furthermore, Ms Carvalho overstated the turnover of VCL on the 2nd BBL application in order to obtain the maximum BBL of £50,000 when only eligible for a maximum BBL of £12,228 in total.
  • VCL entered Creditors Voluntary Liquidation on 17 October 2022.
  • At liquidation, VCL had liabilities of £68,692.12 including £60,122.09 owing in respect of the two BBLs.