Ruxanda Guja, a former East London decorator, overstated her company’s turnover to unlawfully secure £145,000 in Bounce Back Loans, breaching the scheme's rules.
The High Court ruled that Guja, who falsely claimed her company's turnover, violated rules by acquiring three loans—one for £45,000 and two at maximum amounts.
Insolvency Service Director Dave Magrath emphasized that the Bounce Back Loan Scheme's regulations allowed only one loan of a maximum of £50,000 for eligible businesses.
Guja has been banned from being a company director for 13 years and must repay £107,038 in compensation, alongside costs of £7,592.
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