He breached the terms when transferred the cash to a former director
An Arnold man has been given a six year director ban after misusing a £50,000 government loan. Lee Mankelow, 42, claimed the money from the Bounce Back Loan scheme during the pandemic.
However, he paid all the loan to a former director of the company which breached the terms. Wolf Timber Ltd entered into liquidation in December 2020, which was before Wolf Timber Ltd’s insolvency triggered an investigation by the Insolvency Service.Investigators found that Mankelow applied for a £50,000 Bounce Back Loan in June 2020, after the company had seen a rise in online business during Covid lockdowns.
The disqualifications prevent Mankelow from directly, or indirectly, becoming involved in the promotion, formation or management of a company, without the permission of the court.
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