Tough action taken against directors to tackle Covid loan misconduct
- A total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up more than 80% on the previous year
- The average length of director disqualification for Covid misconduct in 2023-24 was almost 10 years
More than 800 company directors have been disqualified for abusing Covid support schemes following investigations by the Insolvency Service.
During 2023-24, a total of 831 directors were banned for Covid financial support scheme misconduct, with an average disqualification length of more than nine-and-a-half years.
Dean Beale, Chief Executive at the Insolvency Service, said:
Tackling Bounce Back Loan misconduct is a ke…
Read the full article at: https://www.gov.uk/government/news/more-than-800-company-directors-banned-for-abusing-covid-support-scheme