Mathius Thompson, 33, from Birmingham, Moira Wood, 47, from Lightwater, Guildford, and Ioan Adrian Mociar, 35, from Harrow have been banned for a total of 30 years after separate investigations found they had abused the Bounce Back Loan scheme during the Covid-19 pandemic.
Mathius Thompson was the sole director of West Midz Cars Ltd in Ladywood, Birmingham. In May 2020 he applied for a Bounce Back loan of 50,000 for his used car dealership.
Bounce Back Loans were a government scheme to help keep businesses afloat during the Covid-19 pandemic. Under the rules of the scheme, companies could apply for loans of up to 25% of their 2019 turnover, up to a maximum of 50,000. All loan money had to be used for the economic benefit of the business…
Read the full article at: https://www.gov.uk/government/news/three-company-directors-banned-for-a-total-of-30-years-for-abusing-bounce-back-loans