Administrators banned for abusing COVID loan program

By Najiyya Budaly (Nov 15, 2021, 2:42 p.m. GMT) – Two former directors were banned for a total of 19 years for fraudulently taking £ 200,000 ($ 269,000) in financial aid during the pandemic to buy a Rolex watch and other personal items, a government agency said on Monday.

The Insolvency Department said the business secretary accepted a disqualification undertaking from Muneef Ihsan and Mahir Towid Ul Haque after they did not dispute that their companies never negotiated and therefore were not eligible loans that the government had made available to companies in difficulty. during confinements. Ihsan was banned from starting or running a business for …

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