LNB News 29/04/2025
Document Information
Issue Date: 29 April 2025
Published Date: 29 April 2025
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Insolvency Service has reported that Ricky Harrison was sentenced to three years and two months in prison and faces a ten-year director disqualification after fraudulently obtaining £200,000 in coronavirus bounce back loans (BBL). Harrison secured maximum-value loans for three dormant companies and overstated turnover for a fourth company when entitled to only £16,000 in total. The director used the funds for personal purposes, including £85,000 for vehicle purchase, contrary to scheme requirements. The prosecution followed the Insolvency Service's investigations into applications made across his four education support companies in 2020.
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