Fraud: Convictions & sentences - September 2022
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Takeaway owner spared jail for £50k VAT fraud
– A takeaway owner based in Knaresborough has been spared jail after admitting to a £50,000 VAT fraud, which spanned more than three years
– The Business was deregistered from VAT in 2015 after claiming that the takeaway was under the income threshold for paying the VAT.
– An investigation, aided by two delivery firms suggested that the takeaway’s turnover was way over the threshold.
Director banned over £200k covid loan abuse
– A company director overstated turnover for his 4 companies to secure £200,000 in Bounce Back loans to pay off a personal loan
– The director has been disqualified for 11 years after he took taxpayers’ money that his companies were not entitled to
– One of the four companies was listed as dormant with Companies House by January 2020
Retailer banned over £45k bounce back loan fraud
– A balloon and gifts retailer has been disqualified for nine years after taking a £45,000 bounce back loan she was not entitled to
– was a maximum of £1,300. This meant that the company was not entitled to even the minimum bounce back loan of £2,000
– The company entered into creditors voluntary liquidation in July 2021, which triggered an investigation by the Insolvency Service.
Company director sentenced to 100 hours of unpaid community work
– The director of a roofing company has been sentenced to 100 hours of unpaid community work after failing to maintain company accounts and owing £85,000 to HMRC
– He was sentenced to a 12-month community order at Gloucester Crown Court
Five directors banned over £198k bounce back loan fraud
– In the drive to catch bounce back loan fraudsters, bankruptcy restrictions totalling 48 years have been given to five individuals who took £198,894 in Covid-19 financial support
– In each of the five cases, the bounce back loans were either wrongfully obtained through overstating their businesses turnover, or on behalf of a company that had already ceased trading prior to the pandemic.
A Leamington Spa man banned from acting as director
– He secured a £50,000 bounce back loan for his business in June 2020 despite it having never traded
– He falsely told the bank his turnover was £200,000, in order to secure the maximum £50,000 available under the scheme.
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