Newark: Man who misused Covid loan gets six-year business ban

A businessman who misused a £50,000 emergency government loan aimed at supporting firms in the pandemic has been banned from running a company.

The 42-year-old, of Arnold, has been disqualified from operating as the director of a business for six years. Mankelow, however, transferred the full £50,000 a day after he received the loan to a former director of the company, breaching the terms of the loan which stated that the money must be used to support the business, investigators said.The service found no evidence to support his claims that the money was used to pay the wages, bonuses, dividends and expenses of the former director, who had stayed on as an employee of the company.

The 42-year-old was the sole director of the city's Lokma BBQ Ltd until the company went into liquidation in January this year.

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Man takes on four jobs to keep his business afloatLee Murthwaite is seeing a 400% increase in energy bills at the recording studio he owns. Basically his hobby job is not very profitable so he got a normal desk job. Maybe he should only, run the equipment he needs and not leave some stuff on standby, as this could help him greatly, you can still do a lot without all the fancy audio equipment. Know how he feels.
Source: BBCNews - 🏆 3. / 97 Read more »