Read on for the story behind this 10 year ban.
Magdalena Stankiewicz (hereinafter referred to as “Miss Stankiewicz”) caused Dark Marina Limited (hereinafter referred to as “DM”) to obtain a Bounce Back Loan (hereinafter referred to as “BBL”) in excess of the amount it was eligible to borrow.
In that:
- Under the BBL scheme, businesses were entitled to apply for a loan of between £2,000 and £50,000, up to a maximum of 25% of turnover in the calendar year 2019.
- If a company was incorporated after January 2019, estimated turnover could be used for the application from the date the business started to trade. Miss Stankiewicz applied for a BBL of £50,000 on 22 May 2020 and declared DM had an annual turnover of £1,440,000.
- Miss Stankeiwicz stated that the turnover figure she provided in the BBL application included estimated future income, but she has not provided any evidence to substantiate the sum declared of £1,440,000.
- DM was incorporated on 01 July 2019. In the period from 29 August 2019 to 22 May 2020, credits totalling £40,590 (excluding reversed transactions) were paid into DM’s bank account of which £36,020 related to funds invested in DM by Miss Stankiewicz and her father.
- DM’s maximum turnover in the first 9 months of trading was therefore £4,570. Accounts subsequently prepared for Dark Marina Limited for the year ending 31 July 2020 indicated its turnover for the first year of trading was £4,636.
- On the basis of these turnover figures, DM would not have been eligible for a BBL as its turnover was insufficient to obtain the minimum loan amount of £2,000.
- DM ceased trading in June 2022 and entered into liquidation on 16 November 2022 owing £51,263 in respect of the BBL.
