Overview
- The director, Sohail Cheema, was sentenced at Wolverhampton Crown Court on Monday 29 June to two years in prison suspended for two years.
- Cheema admitted making two fraudulent Bounce Back Loan applications in 2020 by falsely declaring a £60,000 turnover and obtaining two £15,000 loans.
- Both loan payments were moved out of his business accounts on the day they arrived and transferred to accounts held by Cheema and his wife.
- None of the £30,000 was used for the business and some of the funds later formed part of a £90,000 payment to a third party.
- Cheema was disqualified as a director for 10 years and ordered to complete unpaid work and rehabilitation activity, and the Insolvency Service says it is seeking recovery of the funds under the Proceeds of Crime Act though at least one local report contradicts that, making asset recovery a developing element of the case.