Surrey Director Moved £100,000 in Fraudulent Covid Loans Through Family Bank Accounts
Published: 13 December 2024 at 10:47
Woking, Surrey – A Surrey director has been found guilty of moving £100,000 in fraudulent Covid loans through family bank accounts.
Robert John Smith, 45, of Woking, Surrey, was sentenced to 30 months in prison at Guildford Crown Court on 12 December 2024.
Smith was the director of a company called The Creative Group Ltd. Between May and October 2020, he applied for four Covid Bounce Back Loans, totaling £100,000, in the name of the company.
The loans were intended to support businesses during the Covid-19 pandemic. However, Smith used the money to pay off personal debts and make other unauthorized payments.
Smith transferred the money through the bank accounts of his family members in an attempt to conceal the fraud.
An investigation by the Insolvency Service uncovered Smith’s fraudulent activities. He was arrested in March 2023 and charged with fraud by false representation.
Smith pleaded guilty to the charges at a hearing in October 2023.
Prosecutor’s Statement
Prosecutor Richard Latham said: “Smith abused the Covid Bounce Back Loan scheme for his own personal gain. He lied on his applications and used the money to pay off personal debts. His actions were a betrayal of the trust placed in him by the government.”
Judge’s Statement
Judge Rufus Taylor said: “This was a serious fraud that has deprived the government of £100,000 intended to support businesses during the Covid-19 pandemic. Smith’s actions were dishonest and calculated. He has shown no remorse for his crimes.”
Case Notes
- Robert John Smith, 45, of Woking, Surrey
- Director of The Creative Group Ltd.
- Sentenced to 30 months in prison
- Convicted of fraud by false representation
- Fraudulent Covid Bounce Back Loans: £100,000
- Money transferred through family bank accounts
The Insolvency Service is continuing its investigation into Covid loan fraud.
If you suspect that someone is committing Covid loan fraud, you can report it to the Insolvency Service on 0800 678 1914.
Surrey director moved £100,000 in fraudulent Covid loans through family bank accounts
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