Ali Iskeleliler, Director of Pro Vocal Studios Limited and Extendo Grow Ltd Slapped with a 7 Year 6 Month Ban for Blagging a Bounce Back Loan for Each Company from Barclays by Over-Egging the Turnover of Each Company

BBL Helpline

Here is an insight into what Iskeleliler got up to.

PRO VOCAL

On 06 May 2020, Mr Ali Iskeleliler (“Mr Iskeleliler”) caused Pro Vocal Studios Limited (“Pro Vocal”) to apply for a Government backed Bounce Back Loan (“BBL”) totalling £25,000 for which it was not eligible by including inaccurate information relating turnover.

Thereafter, the BBL was paid into Pro Vocal’s bank account on 11 May 2020.

In that:

  • The BBL scheme a business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of the business’s turnover for the calendar year ended 31 December 2019.
  • In the BBL application on behalf of Pro Vocal Mr Iskeleliler declared turnover for Pro Vocal of £100,000.
  • Pro Vocal’s accounts to 31 May 2019 record a turnover of £8,720, and its accounts to 31 May 2020 record a turnover of £5,242.
  • Bank statements for account 73391612 for the period 1 January 2019 to 31 December 2019 record income of £9,576.89.
  • Income for calendar year 2019 in the sum of £9,576.89 would have entitled Pro Vocal to a BBL in the sum of £2,394.22, rather that the £25,000 it received.
  • According to Pro Vocal’s Statement of Affairs sworn by Mr Iskeleliler, the sum of £21,854.09 remains owing to Barclays in respect of the BBL.

EXTENDO

On 06 May 2020, Mr Ali Iskeleliler (“Mr Iskeleliler”) caused Extendo Grow Ltd (“Extendo”) to apply for a Government backed Bounce Back Loan (“BBL”) totalling £25,000 for which it was not eligible by including inaccurate information relating turnover.

Thereafter, the BBL was paid into Extendo’s bank account on 11 May 2020.

In that:

  • The BBL scheme a business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of the business’s turnover for the calendar year ended 31 December 2019.
  • In the BBL application on behalf of Extendo, Mr Iskeleliler declared turnover for Extendo of £100,000.
  • Extendo’s accounts to 30 September 2019 record a turnover of £2,503 and accounts to 30 September 2020 record a turnover of £25,345.
  • Bank statements for account 43548627 for the period 1 January 2019 to 31 December 2019 record an income of £9,893.57.
  • This would have entitled Extendo to a BBL of £2,473.40, not the £25,000 it received.
  • According to Extendo’s Statement of Affairs sworn by Mr Iskeleliler, the sum of £20,753.36 remains owing to Barclays in respect of the BBL.