A man who abused a bounce back loan intended to aid businesses in the coronavirus crisis was banned from running a business for a decade.
Lee Heywood, whose last address was on Stamford Road, was the director of Edward Mayo Manchester Ltd when it went into liquidation.
In 2020, according to the Insolvency Service, the business applied for a bounce back loan of £50,000 based on a turnover the previous year of £250,000.
But in reality, the turnover the previous year was almost 15 times less than this, the Insolvency Service said.
When Edward Mayor Manchester Ltd went into liquidation the bank was still owed almost all of the bounce back loan.
After an investigation, Mr Heywood was banned from running a business for a decade starting at the end of last month.
This article was written by Jack Tooth. To contact him, email jack.tooth@newsquest.co.uk or follow @JTRTooth on Twitter.
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