Rashid Hussain, 57, of Tintern Crescent, was investigated by the Insolvency Service after breaching the terms of the Government-backed Bounce Back Loan (BBL) scheme for his business ZIB Haulage Ltd.
The carrier company overstated its application for a BBL, resulting in the company receiving £50,000, despite not being entitled to it.
During the pandemic, the BBL scheme allowed businesses to receive a loan of up to 25 per cent of their annual turnover for the 2019 calendar year, which was self-certified.
If a company was established after that date, they were allowed to estimate the company turnover from the date the company started to trade.
ZIB was incorporated in May 2018, and Mr Hussain declared that the…