Insolvency Guardian Media Centre
Dudley director jailed for falsely claiming £50,000 Covid Bounce Back Loan
Craig Smith lied about his turnover to secure the maximum loan available.
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Craig Smith was charged with fraud after receiving £50,000 he was not entitled to
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Smith was jailed earlier this month following Insolvency Service investigations
The boss of a property maintenance company who lied about his turnover to secure a maximum-value Covid Bounce Back Loan has been jailed.
Craig Smith, of Saltwells Road in Dudley, set up C.A.S. Property Maintenance (Midlands) Limited in April 2020.
The 42-year-old applied for a Covid Bounce Back Loan in August 2020 using his own name as the loans were only available to businesses trading from the…
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Dudley director jailed for falsely claiming £50,000 Covid Bounce Back Loan
Craig Smith lied about his turnover to secure the maximum loan available.
-
Craig Smith was charged with fraud after receiving £50,000 he was not entitled to
-
Smith was jailed earlier this month following Insolvency Service investigations
The boss of a property maintenance company who lied about his turnover to secure a maximum-value Covid Bounce Back Loan has been jailed.
Craig Smith, of Saltwells Road in Dudley, set up C.A.S. Property Maintenance (Midlands) Limited in April 2020.
The 42-year-old applied for a Covid Bounce Back Loan in August 2020 using his own name as the loans were only available to businesses trading from the…
Read the original article here
More than three billion people worldwide live in economies forced to spend more on debt repayment than on health or education. To help developing countries free themselves from the burden of unsustainable debt, a new UN-backed forum was launched Wednesday.
The Seville Debt Forum will promote fairer lending, faster restructuring and long-term reform of the financial system established after World War II.
Hosted by Spain and supported by the United Nations, this forum aims to maintain global attention on the debt crisis while translating into concrete actions the firm commitments made at the Fourth International Conference on Financing for Development (FFD4) in June in Seville.
Governments, finance ministers and creditors from…
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First held with a single stage in 2004 by founder Alex Trenchard and expanding to a two day festival in 2006, the festival was postponed in 2023 and due to make a return in 2026.
According to the BBC the organisers have said: “Due to significant financial losses sustained in 2022 and 2023, we were unable to run the festival in 2024 and 2025.
“For the last 18 months we have engaged with a number of potential investors to continue the festival, including one party for the last 13 months.
“With huge regret, additional investment has not been secured and we are left with no other option than to put the company into the control of the liquidators.
“We are hugely grateful for all the support that so many…
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Malaysian influencer arrested in Taiwan over gambling debt-linked fraud Gambling Insider
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Manchester Pride confirmed it has begun the legal process of voluntary liquidation facebook.com
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A music festival has been held for the last time after the company behind it announced it had gone into liquidation.
Standon Calling was first staged in the village of Standon, Hertfordshire, nearly 20 years ago, attracting thousands of festivalgoers, but has not been held for the past two years.
In an online post, organiser said: “We regret to announce that after 17 Standon Callings the 2023 Standon Calling will now prove to have been the last.”
Acts to have played the festival, first staged in 2006, include Charli XCX, Madness, Primal Scream and Bryan Ferry
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Pandanus Group, a Queenland-based labour hire company controlled by Mumpara Group Holdings, has reportedly left creditors exposed to $1.7 million in debts after entering liquidation.
Mumpara Group Holdings describes itself on its LinkedIn page as a nationwide family of non-profit and profit-for-purpose companies that seeks to empower Indigenous families to “holistically” break the cycle of generational welfare dependency.
This publication recently revealed that Mumpara Group’s director Peter Remfrey (also known as Peter Babui-Remfrey), had previously identified himself (in 2020) as “a proud Tiwi man of non-Indigenous descent”, before, in early…
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On Thursday, the Justice Department announced that they had arrested some 30 people involved in illegal gambling—in particular, sports gambling. It is potentially the biggest sports gambling scandal since the college point-shaving scandal in the early 1950s.
One of those arrested, Miami Heat guard Terry Rozier, allegedly used inside information to set up fraudulent bets. In 2023, for example, Rozier is accused of letting gamblers know that he would fake an injury and leave a game early, so they could make hundreds of thousands of dollars. And some of that money allegedly wound up in Rozier’s pocket.
For decades, both the NCAA and professional sports leagues kept as far away from gambling as they could, fearing its corrupting…
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Tonali told calciomercato in 2023 about Marinoni’s role in recruiting him into the illegal activities. He said: “The person who initiated me to gambling is Pietro Marinoni, who comes from the same city as me and went to school with my sister. He was a referee.
“I was never threatened, but I was offered to pay off the debt in installments. I reached a debt of €500,000 with them. Their objective was to make me continue to gamble, but they never pushed for any payment.”
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Two key enablers of a scheme designed to undermine insolvency legislation by allowing business owners to keep their assets and drop debts have been banned as company directors.
Sisters Karen Mortimer and Joanna Seawright put the creditors of 138 companies at risk of financial loss after taking control of the businesses which were referred to them by Atherton Corporate UK (Ltd) and Atherton Corporate Rescue Limited.
The Atherton companies provided a corporate rescue scheme where directors of companies in financial distress were encouraged to sell their businesses as an alternative to formal insolvency proceedings such as liquidation.
Most recently filed accounts of the 138 companies showed assets totalling more than £42…