Arash Sharafzadeh, 33, overstated his company’s turnover to claim the maximum loan under the government scheme during the pandemic.
Mr Sharafzadeh, who ran BSG Bolton Ltd, applied for the loan on September 4, 2020, and said the company’s turnover in 2019 was £210,566.
However, the company’s actual turnover for the year ending July 31, 2019 was £76,915, increasing slightly to £82,104 for the year ending July 31, 2020.
An analysis of BSG Bolton’s bank statements showed gross sales of £94,160.42 in 2019, meaning the correct maximum loan should have been £23,540 – less than half of what was claimed.
As a result of the inflated figure, Mr Sharafzadeh secured an extra £26,460 through the scheme.
The…