A Manchester businessman has been jailed for two years and four months after admitting he made fraudulent Covid Bounce Back loan applications for three companies and acted as a director while disqualified.
Matloob Hussain was the director of Dynasty Group Ltd, an Eccles-based wholesaler of clothes and footwear, and NA Collection Mcr Ltd, based in Manchester, which provided online sales of products such as confectionery.
In 2020, the 49-year-old successfully claimed a second £50,000 Bounce Back Loan for each company, despite each business only being entitled to one. Additionally, in his second application for a loan for NA Collection Mcr Ltd, Hussain also overestimated the company’s turnover.
The third Bounce Back Loan related to a sole-tradership, for which a £50,000 was obtained following an application where he overestimated the turnover and provided a false statement that it would be used to the benefit of the business.
Hussain was also found to have been acting as a director of Dynasty Group Ltd while disqualified. In 2021, he signed a 10-year disqualification undertaking following a separate Insolvency Service investigation relating to NA Collection Mcr Ltd.
Hussain admitted three counts of fraud and one count of acting as a director while undertaking a disqualification.
He was sentenced to 28 months imprisonment at Manchester Crown Court on 25 March 2026.
Insolvency Service Chief Investigator Darren Bailey said:
Matloob Hussain clearly thought he was above the law and blatantly disregarded the rules of a loan scheme designed to help struggling businesses.
By applying for multiple loans and continuing to act while disqualified, he caused significant loss to the public purse and undermined the insolvency system.
The Insolvency Service will now look to recover the loans via the Proceeds of Crime Act, in addition to the approximately £27,000 already recovered.
More Information
- Matloob Hussain, date of birth 22 August 1976, address Devonshire Way, Manchester.
- NA Collection MCR Ltd, Company number 10803715.
- Dynasty Group Ltd, Company number 12478323.
