Mopping up Covid-19 loan fraud contamination

Some of the standard checks and safeguards were thrown to the wind as the UK Government scrambled to prop up small businesses in the early throes of the pandemic. Though fraud estimates vary wildly, they are all in the billions of pounds, and a substantial loan recovery effort is piling on further expense. As hundreds of company directors are struck off for offences related to the schemes, Victoria Dunstall of Excello Law provides an update.

Victoria Dunstall (+44 (0)845 257 9449, vdunstall@excellolaw.co.uk) is a partner and corporate insolvency specialist at Excello Law (www.excellolaw.co.uk).

Some of the standard checks and safeguards were thrown to the wind as the UK Government scrambled to prop up small businesses in the early throes of the pandemic. Though fraud estimates vary wildly, they are all in the billions of pounds, and a substantial loan recovery effort is piling on further expense. As hundreds of company directors are struck off for offences related to the schemes, Victoria Dunstall of Excello Law provides an update.