A company director has been banned for 15 years after obtaining a £46,500 Covid Bounce Back loan for a construction company that never traded, according to the Insolvency Service.
Ademilson Nascimento, of Ridgemount Close in South London, obtained the loan in July 2020.
He had claimed turnover of £192,000 for his firm, Buildan Construction Ltd, according to the Insolvency Service.
But the company had never traded, filing dormant accounts for 2019, 2020 and 2021, it added.
Nascimento therefore failed to use the loan for the economic benefit of his firm as required by the government scheme, the Insolvency Service said.
He was disqualified for 15 years – the maximum period allowed – at a High Court hearing in London on 28 April, according…