https://www.taxtmi.com/news?id=73894 Covid business loan fraud involved false Bounce Back Loan applications based on inflated turnover, duplicate claims, and false declarations that funds would be used solely for business purposes. The loan proceeds were diverted to personal accounts for personal debts, personal finance, stocks and shares, and transfers between company accounts. The borrower pleaded guilty to fraud offences, received a custodial sentence, and faces recovery proceedings for the fraudulently obtained funds under the Proceeds of Crime Act 2002. en-us Sat, 18 Jul 2026 16:01:03 +0530 Sat, 18 Jul 2026 16:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=73894 Covid business loan fraud involved false Bounce Back Loan applications based on inflated turnover, duplicate claims, and false declarations that funds would be used solely for business purposes. The loan proceeds were diverted to personal accounts for personal debts, personal finance, stocks and shares, and transfers between company accounts. The borrower pleaded guilty to fraud offences, received a custodial sentence, and faces recovery proceedings for the fraudulently obtained funds under the Proceeds of Crime Act 2002. News - Sat, 18 Jul 2026 16:01:03 +0530 https://www.taxtmi.com/news?id=73894