A Rotherham-based businessman has been found guilty of making a false application for a government scheme designed to enable businesses to access finance more quickly during the coronavirus outbreak.
The Insolvency Service has been carrying out work to target Covid loan abuse.
In January 2024, Abdullah Khan, formerly known as Imran Khan, 32, was given a ten year Bankruptcy Restrictions Order (BRO).
Whilst not a criminal offence, a BRO is a legal order from the court which extends the period of time where certain restrictions have to be followed. They are often used for people going bankrupt when the official receiver thinks they have been dishonest or are to blame for the debts.
Khan, of Norrel’s Croft, Rotherham, obtained a £50,000 loan in June 2020 for his AK Courier Services business.
However, he overstated the turnover of his business, claiming it was £203,000 and received at least £36,000 more than he was entitled to.
The application stated that his business turnover for the year ended 31 December 2019 was £203,000 but according to his tax returns Mr Khan’s business turnover for 2018/19 was £15,077 and for 2019/20 was £37,784. The average turnover for the year ended 31 December 2019 was therefore £31,975, which entitled him to a Bounce Back Loan of £7,994.
At bankruptcy in March 2022, Mr Khan had liabilities of £62,568, of which £50,000 is in respect of the loan.
Khan appeared at the County Court in Leeds in January where he was handed the BRO.
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The Bounce Back Loan Scheme was available through a range of accredited lenders and partners and provided financial support to businesses across the UK that were losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak, or could benefit from £50,000 or less in finance.
A lender could provide a six-year term loan from £2,000 up to 25% of a business’ turnover. The maximum loan amount was £50,000. The scheme gave the lender a full (100%) government-backed guarantee against the outstanding balance of the facility (both capital and interest).
The scheme saw over 1.5 million loans approved, totalling £47bn.
So far in 2023-24, the Insolvency Service has secured 757 director disqualifications and 69 bankruptcy restrictions relating to Covid financial support scheme abuse allegations.
Robert Peck, Director of Official Receiver Services at the Insolvency Service, said: "Tackling Bounce Back Loan abuse is a key priority for the Insolvency Service and we will take action against those who applied for these loans giving misleading information during the pandemic.
"Bankruptcy Restrictions Orders and Undertakings are a tool available at our disposal to limit the activities of those who have provided false details to obtain credit or who have otherwise acted dishonestly."
Images: Insolvency Service / twitter
The Insolvency Service has been carrying out work to target Covid loan abuse.
In January 2024, Abdullah Khan, formerly known as Imran Khan, 32, was given a ten year Bankruptcy Restrictions Order (BRO).
Whilst not a criminal offence, a BRO is a legal order from the court which extends the period of time where certain restrictions have to be followed. They are often used for people going bankrupt when the official receiver thinks they have been dishonest or are to blame for the debts.
Khan, of Norrel’s Croft, Rotherham, obtained a £50,000 loan in June 2020 for his AK Courier Services business.
However, he overstated the turnover of his business, claiming it was £203,000 and received at least £36,000 more than he was entitled to.
The application stated that his business turnover for the year ended 31 December 2019 was £203,000 but according to his tax returns Mr Khan’s business turnover for 2018/19 was £15,077 and for 2019/20 was £37,784. The average turnover for the year ended 31 December 2019 was therefore £31,975, which entitled him to a Bounce Back Loan of £7,994.
At bankruptcy in March 2022, Mr Khan had liabilities of £62,568, of which £50,000 is in respect of the loan.
Khan appeared at the County Court in Leeds in January where he was handed the BRO.
Advertisement
The Bounce Back Loan Scheme was available through a range of accredited lenders and partners and provided financial support to businesses across the UK that were losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak, or could benefit from £50,000 or less in finance.
A lender could provide a six-year term loan from £2,000 up to 25% of a business’ turnover. The maximum loan amount was £50,000. The scheme gave the lender a full (100%) government-backed guarantee against the outstanding balance of the facility (both capital and interest).
The scheme saw over 1.5 million loans approved, totalling £47bn.
So far in 2023-24, the Insolvency Service has secured 757 director disqualifications and 69 bankruptcy restrictions relating to Covid financial support scheme abuse allegations.
Robert Peck, Director of Official Receiver Services at the Insolvency Service, said: "Tackling Bounce Back Loan abuse is a key priority for the Insolvency Service and we will take action against those who applied for these loans giving misleading information during the pandemic.
"Bankruptcy Restrictions Orders and Undertakings are a tool available at our disposal to limit the activities of those who have provided false details to obtain credit or who have otherwise acted dishonestly."
Images: Insolvency Service / twitter
The man is a despicable charlatan like all the vermin who tried to profit out of the covid suffering.
ReplyDeleteAlso not very bright. All he has to do to avoid prosecution was to make a donation to the Tory Party and abuse a black woman.
ReplyDeleteSounds fair to me 🤣
DeleteRishi and his Maltby toady agree
DeleteThe government allowed a lot of incompetent and unscrupulous people to profit from the misery and death of covid.
ReplyDeleteAnyone else guessed the second name without reading the article?
ReplyDeleteYep
DeleteNo, but then I'm not a racist
DeleteNo-one can condone profiteering. But then no one should condone racial stereotyping either
DeleteFor real racial stereotyping and horrible racist comments there are some sereal offenders on Millersmad Dukes Bar.
DeleteIt's just all grist to the mill really
DeleteYes, I have
ReplyDeleteBut yet, it is acceptable to condemn the entire political party based on one person's voice.
ReplyDeleteYes, because they all speak the language of corruption
DeleteYes, if it's the Tory Party
DeleteDepends who the voice belongs to
ReplyDeleteWhat about the voice of the Chanclor? :"£100,000 a year is not a huge salary in Surrey"
ReplyDeleteCan't wait for the Tories to deliver on their levelling up lies and people in Canklow are earning similar salaries
Would 100k not buy Canklow?
Delete100k would certainly buy any number of Tory MPs.
DeleteDifficult to argue with that, though I suppose our true blue comrade will do his sanctimonious best.
DeleteLook, we all have a right to our own opinions and mine is that the best interests of this country are served by a Conservative Government. And before you start bleating about me being a lone voice let me tell you that my views are shared by lots of people at Sitwell golf club and even the poorer parts of Whiston where they are even talking about opening a Waitrose food bank.
DeleteBit unfair that. The Tories do care about voters, usually on polling day.
ReplyDeleteWhat do you call a Tory criminal - My Lord.
ReplyDeleteBring back Liz Truss - the country needs a laugh.
ReplyDeleteWho has an IQ of 100?
ReplyDeleteA Cabinet Minister
Who has an IQ of 50?
The Prime Minister
Name me anyone more corrupt than a Tory minister.
ReplyDeleteSorry, I give in.
Wow that's one for every inch.
ReplyDeleteGosh, we could potentially have a PM on the board of Millersmad forum.
ReplyDeleteI bet he doesn't.
ReplyDeleteWhich poster from Millersmad are you?
ReplyDeleteI don't post. Just read the moaning
ReplyDeleteMe too. So you're not simple gru or hate everything grist.
ReplyDeleteI don't mind gru. Grist on the other hand...
DeleteWho on earth is Grist?
ReplyDeleteImagine Gollum with misogynistic tendencies
ReplyDeleteThat’s being polite
DeleteThe misogyny is the least of his flaws
DeleteI wonder if he's our very own Mr High Rise?
ReplyDeleteHe loves lots of flaws.
I doubt Grist would like anything as modern as a high rise. Especially if it would attract any 'undesirables' to live there.
ReplyDeleteFor "undesirables" read women, refugees, asylum seekers, liberals, remainers, socialists, minorities, environmentalists and then anyone demonstrating empathy with vulnerable people generally
ReplyDeleteAn all round Mr Nice Guy then?
ReplyDeleteAbsolutely vile individual
DeleteWonder if any of his fellow Millersmad posters will make him aware that he is now famous on Rothbiz?
DeleteYou left out the entire LGBTQ+ community.
ReplyDeleteDidn't want to make assumptions
DeleteThis comment has been removed by the author.
ReplyDeleteNot being naughty again are you Jez?
DeleteJust a bit
DeleteHe'd probably love it if he found out. The smugness seeps through every post he makes.
ReplyDeleteI hope somebody does let the messageboard know. It's people like him that make people not bother to sign up. Several members reflect really badly on the club and the town and he's Number 1 culprit.
ReplyDeleteI stopped posting years ago because of that guy's malignant comments.
ReplyDeleteHe certainly never misses an opportunity to run down the town.
ReplyDeleteHe runs down EVERYTHING. Hateful man.
DeleteHe would probably argue that his posts were harmless fun. But they are neither
ReplyDeleteHe thinks he’s a comedian as well. His quips at every opportunity are cringe worthy. He wouldn’t know funny if it smacked him in the face.
DeleteOh, if if only it would...
Delete