Two men who fraudulently claimed £200,000 between them in emergency Covid loans by setting up bogus businesses have been banned from running companies. The men, both from Rotherham, triggered an investigation when they put their companies into voluntary liquidation after receiving the Bounce Back Loans, which were offered by the government to help businesses keep going through lockdown. Muneef Ihsan was director of three companies that received £150,000 in total, while Mahir Towid Ul Haque received a £50,000 loan, using some of it to buy a Rolex watch. The money has not yet been recovered, but the two men could face attempts to retrieve it.

Source: BBC

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