Ruxanda Guja, a decorator, fraudulently secured £145,000 in Covid support loans despite only being eligible for a single loan of £50,000, resulting in a 13-year director ban.
According to Dave Magrath of the Insolvency Service, "The rules of the Bounce Back Loan Scheme were extremely clear. Businesses were only entitled to a single loan of a maximum of 50,000, depending on their turnover."
Guja breached the Bounce Back Loan Scheme by securing three loans, exceeding the limits and leading to a requirement to pay back £107,038 in compensation.
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