Raashid Khan (26) has been disqualified as a director for 12 years after fraudulently claiming 50,000 through the Bounce Back Loan Scheme (BBLS) before transferring the full amount out of the companys account to himself just days before his company went into administration.
Khan, from Birmingham, was director of Ikandy Wholesale Ltd, which bought and sold bulk goods, including fireworks and fresh meat.
Despite Ikandy Wholesales company accounts being frozen after it was confirmed the company was to be shut down, Khan forged a document to convince his bank that the winding up order had been revoked. This allowed him to transfer around 70,000 out of the account, including a 50,000 Bounce Back Loan, which he had secured less than two weeks…
Read the full article at: https://www.gov.uk/government/news/insolvency-service-takes-action-against-businesses-abusing-covid-19-financial-support
