In this section of the website you will discover over 2400 defaulted Bounce Back Loans, along with the Company and Directors / Sole Traders names, all of whom received some form of punishment (also revealed) as it was found each of them had abused the BBL scheme in one way or another. Grab a coffee, but please do not choke on it, as you read them, for some of the BBL associated skulduggery is quite shocking.
Director Over-Egged Turnover to Obtain a £50k BBL, Moved Funds to a Different Bank Account to Ringfence Them and Didn’t Disclose BBL at Liquidation – Upshot Is a 7 Year Disqualification
I have discovered a new term that I have not seen used before when it comes to the Insolvency Service explaining several reasons for slapping a Company Director with a disqualification, that being “ringfencing” Bounce Back Loan funds. That describes the act of moving funds from one bank account to another. […]