We tax payers paid for their fraud and now mf paying for their bed and board in prison…the f’ing liberty!
SoiledGrundies on
I know a guy who got a van and another who had a new kitchen with these loans. Fitted during lockdown by guys on furlough who’d also had loans. Both closed their businesses and are still trading under a different name. I’ve heard of people who simply took the £50k or more and left the country.
I borrowed £9000, 1/4 of turnover and it was so easy. Done on trust. I could have taken £50k. No checks. Money in the bank the next day.
I’ve paid back over half already but I wonder why every month when the government seem to have written them off. I’d like to think reading articles like this would make me feel a little better but there’s really no punishment here.
Sunak was the least fiscally responsible chancellor ever.
Initial-Shop-8863 on
The same things happened in the US. Anyone ever wonder why certain problems/situations in one country are mirrored worldwide?
Rinkie-dink on
My Ltd company with 12 employees was refused a £15k loan while my friend who has a part time business as a sole trader with no other full time employees got £25k in a couple of days.
I had to shut the business down a couple of months later, nice one 👍
Scottieosaurus on
Good, I hope more people get caught.
I had a letter one day a couple of years ago telling me they were applying an attachment of earnings to my wages for UC I had taken in Covid, except I had never taken any, luckily I had a good boss at the time who helped me out but it took ages to sort out, they eventually admitted someone had used my identity to take money fraudulently, how is that even possible? Surely basic checks are required to get UC?
CosmosBlue23 on
We lost billions to these frauds. The banks were prevented from implementing adequate checks by the government. Literally anyone could get them with absolutely minimal effort.
There are organised crime groups that comprise of overseas students travelling to the UK to study, then setting up fraud factories. Bounce Back Loans were very popular with them.
I know of examples such as a student who’d been in the country for a matter of months, claiming to have a £200k income. As a hairdresser. This was whilst actually working part time in a cafe. They got a £50k loan without any difficulty at all, and subsequently disappeared back home.
SubjectCraft8475 on
I know some who took out the loan and bought a house.
They obviously closed company down and not paying back, and have house under partners name etc. Even if they were to get caught and pay back, there house value which they bought with covid loan has gone up in so much value they are still better off even if they were forced to payback wifh fees on top
BoomSatsuma on
That’s small fry. There’s many more people who’ve gotten millions.
MarrV on
I found an enterprising individual who claimed over 300k (different aliases etc). Raised it internally and got told to stop looking for people doing that.
The more you know about that scheme the worse it gets.
maybenomaybe on
A friend of mine (who I now hold in low regard) applied for and received a 10k covid grant by pretending she owned a business. She used it for a deposit on a flat. She told our friend group this with great pride and no one knew what to say, we were all “uh…” and side-eyeing each other. She suggested I do the same and I declined.
10 Comments
We tax payers paid for their fraud and now mf paying for their bed and board in prison…the f’ing liberty!
I know a guy who got a van and another who had a new kitchen with these loans. Fitted during lockdown by guys on furlough who’d also had loans. Both closed their businesses and are still trading under a different name. I’ve heard of people who simply took the £50k or more and left the country.
I borrowed £9000, 1/4 of turnover and it was so easy. Done on trust. I could have taken £50k. No checks. Money in the bank the next day.
I’ve paid back over half already but I wonder why every month when the government seem to have written them off. I’d like to think reading articles like this would make me feel a little better but there’s really no punishment here.
Sunak was the least fiscally responsible chancellor ever.
The same things happened in the US. Anyone ever wonder why certain problems/situations in one country are mirrored worldwide?
My Ltd company with 12 employees was refused a £15k loan while my friend who has a part time business as a sole trader with no other full time employees got £25k in a couple of days.
I had to shut the business down a couple of months later, nice one 👍
Good, I hope more people get caught.
I had a letter one day a couple of years ago telling me they were applying an attachment of earnings to my wages for UC I had taken in Covid, except I had never taken any, luckily I had a good boss at the time who helped me out but it took ages to sort out, they eventually admitted someone had used my identity to take money fraudulently, how is that even possible? Surely basic checks are required to get UC?
We lost billions to these frauds. The banks were prevented from implementing adequate checks by the government. Literally anyone could get them with absolutely minimal effort.
There are organised crime groups that comprise of overseas students travelling to the UK to study, then setting up fraud factories. Bounce Back Loans were very popular with them.
I know of examples such as a student who’d been in the country for a matter of months, claiming to have a £200k income. As a hairdresser. This was whilst actually working part time in a cafe. They got a £50k loan without any difficulty at all, and subsequently disappeared back home.
I know some who took out the loan and bought a house.
They obviously closed company down and not paying back, and have house under partners name etc. Even if they were to get caught and pay back, there house value which they bought with covid loan has gone up in so much value they are still better off even if they were forced to payback wifh fees on top
That’s small fry. There’s many more people who’ve gotten millions.
I found an enterprising individual who claimed over 300k (different aliases etc). Raised it internally and got told to stop looking for people doing that.
The more you know about that scheme the worse it gets.
A friend of mine (who I now hold in low regard) applied for and received a 10k covid grant by pretending she owned a business. She used it for a deposit on a flat. She told our friend group this with great pride and no one knew what to say, we were all “uh…” and side-eyeing each other. She suggested I do the same and I declined.