UK government is kissing goodbye to the £100,000 an IT consultant-cum-software developer wrongly secured under the Bounce Back Loans scheme that was created during the pandemic to financially support firms.
E Marketing didn't maintain"adequate accounting records" since its incorporation in October 2019 until its demise, according to the Insolvency Service. And investigators were unable to determine if the loads were used for the"economic benefit of the business." "Jastrzebski applied for two Bounce Back Loans when the rules of the scheme were very clear that only one application could be made for an individual business. He compounded this by failing to disclose the existence of the first loan he secured when his company went into liquidation.
E Marketing Ltd was dissolved in December, and in a filing on UK company repository, Companies House, the liquidators confirm unsecured creditor claims.