Credit, Collections & Insolvency News
A second-hand car dealer has been ordered to repay the Covid funds he fraudulently secured in full. Javed Akhtar was handed a confiscation order of £66,917 when he appeared at Bradford Crown Court. Akhtar must repay all the money within three months. If he fails to do so, he could face six months in prison…
Read more
A director has been sentenced after fraudulently inflating his company’s turnover to secure Covid support, which he used to pay off his personal debts. Faruk Chowdhury falsely claimed his company had a turnover of £150,000 and that the Bounce Back Loan would be used for legitimate business purposes. Chowdhury’s company, Learn & Earn Ltd, showed…
Read more
A Covid fraudster has been sentenced after illegally obtaining a second Bounce Back Loan for his company when businesses were only entitled to one. Jobanputra applied for two £50,000 Bounce Back Loans for his printing business, Genesis Web Limited, within a five-day period in the summer of 2020. The 41-year-old fraudulently declared on the second…
Read more