Bankruptcy restrictions totalling 48 years for five individuals who took Covid-19 financial support to which they were not entitled
Five individuals have separately been made subject to bankruptcy restrictions totalling 48 years as the Insolvency Service continues to identify and tackle abuse of the Bounce Back Loan scheme.
In each of the five separate 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, or were simply misused for personal use rather than legitimate business spending.
Their bankruptcy restrictions mean none of the above individuals are able to borrow more than £500 without disclosing their bankrupt status. They also cannot act as a company director without permission from the court.
In each of the above cases the local Official Receiver is working on potential recovery action.
Kevin Read, Official Receiver at the Insolvency Service, said:
Notes to Editors
Charlene Kylie Wilson is of South Shields, and her date of birth is July 1988. Details of her undertaking is available on the Individual Insolvency Register
Georgiana Mariana Cercel is of Lincoln, and her date of birth is July 1995. Details of her undertaking is available on the Individual Insolvency Register
Florin Petrisor Bodale is of Harrow, and his date of birth is June 1990. Details of his undertaking is available on the Individual Insolvency Register
Sarah Louise Sweeting is of Bromley, and her date of birth is November 1974. Details of her undertaking is available on the Individual Insolvency Register
Abbas Moradmand is of Bournemouth, and his date of birth is January 1971. Details of his undertaking is available on the Individual Insolvency Register
Bankruptcy restrictions are wide-ranging. The effects are the same whether you are subject to a bankruptcy restrictions order or to an undertaking. Guidance on the main statutory consequences flowing from a bankruptcy restrictions order or undertaking.
Information about the work of the Insolvency Service, and how to complain about financial misconduct