Liverpool directors closed their company after moving Bounce Back Loan money into family bank accounts
A couple were sentenced at Liverpool Crown Court on 7 December, following an Insolvency Service investigation which found they had abused a 30,000 Bounce Back Loan, and then closed down their company in an attempt to avoid paying back the loan.
Matthew Christopher Wright, 54, from Liverpool, was sentenced to 14 months imprisonment for each offence of fraud and of failing to tell the bank which had lent his company the money that the business was to be dissolved. The two sentences are to run concurrently, suspended for a period of 18 months.
Karl Thomas Mathers, 50, also from Liverpool, received 10 months imprison…
Read the full article at: https://www.gov.uk/government/news/couple-sentenced-for-abusing-covid-loan-then-dissolving-their-company