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£500 Million - missing or stolen and rising
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By *rFunBoy OP Man
over a year ago
Longridge |
Another Conservative waste of taxpayers money overseen by the Chancellor claiming he dud good things and now seeking to be our next Prime Minister. Add this to the PPE Scandal, the Furlough Scandal and the COVID app Scandal.
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found.
Hundreds of directors, who got loans they were not entitled to, have also been disqualified.
A total of 1.5 million loans worth £47bn were handed out. One of several measures designed to help businesses survive the pandemic, the loans were supposed to be paid back within 10 years. But in the rush to save the economy, checks on borrowers were limited.
Under the scheme any small company could apply for a loan of up to £50,000 depending on its turnover. Applicants were allowed to "self-certify" the figures.
Many were applied for by Dormant Companies, others were non viable and monet was taken by Directors who then closed the company to destroy liability to repay. |
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"Another Conservative waste of taxpayers money overseen by the Chancellor claiming he dud good things and now seeking to be our next Prime Minister. Add this to the PPE Scandal, the Furlough Scandal and the COVID app Scandal.
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found.
Hundreds of directors, who got loans they were not entitled to, have also been disqualified.
A total of 1.5 million loans worth £47bn were handed out. One of several measures designed to help businesses survive the pandemic, the loans were supposed to be paid back within 10 years. But in the rush to save the economy, checks on borrowers were limited.
Under the scheme any small company could apply for a loan of up to £50,000 depending on its turnover. Applicants were allowed to "self-certify" the figures.
Many were applied for by Dormant Companies, others were non viable and monet was taken by Directors who then closed the company to destroy liability to repay."
I am aware of someone who closed their buisness down 5 years ago and they recieved a 50k cheque for furlough |
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"Another Conservative waste of taxpayers money overseen by the Chancellor claiming he dud good things and now seeking to be our next Prime Minister. Add this to the PPE Scandal, the Furlough Scandal and the COVID app Scandal.
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found.
Hundreds of directors, who got loans they were not entitled to, have also been disqualified.
A total of 1.5 million loans worth £47bn were handed out. One of several measures designed to help businesses survive the pandemic, the loans were supposed to be paid back within 10 years. But in the rush to save the economy, checks on borrowers were limited.
Under the scheme any small company could apply for a loan of up to £50,000 depending on its turnover. Applicants were allowed to "self-certify" the figures.
Many were applied for by Dormant Companies, others were non viable and monet was taken by Directors who then closed the company to destroy liability to repay.
I am aware of someone who closed their buisness down 5 years ago and they recieved a 50k cheque for furlough "
I think people have to be deliberately obtuse to think the whole thing wasn't just a big scam to give taxpayer money to their friends.
Yeah they disguised it by giving a load of grants and loans to places that needed it, but it wasnt the driving motive. |
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By *irldnCouple
over a year ago
Brighton |
"Another Conservative waste of taxpayers money overseen by the Chancellor claiming he dud good things and now seeking to be our next Prime Minister. Add this to the PPE Scandal, the Furlough Scandal and the COVID app Scandal.
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found.
Hundreds of directors, who got loans they were not entitled to, have also been disqualified.
A total of 1.5 million loans worth £47bn were handed out. One of several measures designed to help businesses survive the pandemic, the loans were supposed to be paid back within 10 years. But in the rush to save the economy, checks on borrowers were limited.
Under the scheme any small company could apply for a loan of up to £50,000 depending on its turnover. Applicants were allowed to "self-certify" the figures.
Many were applied for by Dormant Companies, others were non viable and monet was taken by Directors who then closed the company to destroy liability to repay.
I am aware of someone who closed their buisness down 5 years ago and they recieved a 50k cheque for furlough "
Hope you are going to report them? |
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"Another Conservative waste of taxpayers money overseen by the Chancellor claiming he dud good things and now seeking to be our next Prime Minister. Add this to the PPE Scandal, the Furlough Scandal and the COVID app Scandal.
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found.
Hundreds of directors, who got loans they were not entitled to, have also been disqualified.
A total of 1.5 million loans worth £47bn were handed out. One of several measures designed to help businesses survive the pandemic, the loans were supposed to be paid back within 10 years. But in the rush to save the economy, checks on borrowers were limited.
Under the scheme any small company could apply for a loan of up to £50,000 depending on its turnover. Applicants were allowed to "self-certify" the figures.
Many were applied for by Dormant Companies, others were non viable and monet was taken by Directors who then closed the company to destroy liability to repay.
I am aware of someone who closed their buisness down 5 years ago and they recieved a 50k cheque for furlough
Hope you are going to report them?"
No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up. |
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By *rFunBoy OP Man
over a year ago
Longridge |
It's a piss take..
The hurdles I'm currently jumping through and over to raise a £120K short term business loan.
I should have registered three fake companies, taken £150K and paid back before anyone noticed and claim "I didn't realise, sorry" |
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"I am aware of someone who closed their business down 5 years ago and they received a 50k cheque for furlough"
"Hope you are going to report them?"
"No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up."
They are lying through their teeth.
The government didn't just hand out furlough cash, you had to ask for it and supply details of who was going to be paid what.
If the person you're talking about got £50,000, it's because they lied on their application form. You should report them. |
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"I am aware of someone who closed their business down 5 years ago and they received a 50k cheque for furlough
Hope you are going to report them?
No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up.
They are lying through their teeth.
The government didn't just hand out furlough cash, you had to ask for it and supply details of who was going to be paid what.
If the person you're talking about got £50,000, it's because they lied on their application form. You should report them."
Here is another one for you a dude been running a garage from a unit for years never payed tax on disability now pip gets 10k from the local authority. Nothing is joined up. |
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"I am aware of someone who closed their business down 5 years ago and they received a 50k cheque for furlough"
"Hope you are going to report them?"
"No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up."
"They are lying through their teeth.
The government didn't just hand out furlough cash, you had to ask for it and supply details of who was going to be paid what.
If the person you're talking about got £50,000, it's because they lied on their application form. You should report them."
"Here is another one for you a dude been running a garage from a unit for years never payed tax on disability now pip gets 10k from the local authority. Nothing is joined up."
I agree with you that nothing is joined up, and that some people claim cash that they don't deserve.
What I don't agree with is that anyone got given a cheque for furlough without filling in the form. There weren't a lot of checks and balances, but no one got given money without asking for it.
Ask yourself how that bloke managed to cash the cheque, since he said he closed his business 5 years before, and banks will freeze an account if the company gets shut down. |
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"I am aware of someone who closed their business down 5 years ago and they received a 50k cheque for furlough
Hope you are going to report them?
No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up.
They are lying through their teeth.
The government didn't just hand out furlough cash, you had to ask for it and supply details of who was going to be paid what.
If the person you're talking about got £50,000, it's because they lied on their application form. You should report them.
Here is another one for you a dude been running a garage from a unit for years never payed tax on disability now pip gets 10k from the local authority. Nothing is joined up.
I agree with you that nothing is joined up, and that some people claim cash that they don't deserve.
What I don't agree with is that anyone got given a cheque for furlough without filling in the form. There weren't a lot of checks and balances, but no one got given money without asking for it.
Ask yourself how that bloke managed to cash the cheque, since he said he closed his business 5 years before, and banks will freeze an account if the company gets shut down."
He did not cash it. |
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By *otMe66Man
over a year ago
Terra Firma |
"I am aware of someone who closed their business down 5 years ago and they received a 50k cheque for furlough
Hope you are going to report them?
No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up.
They are lying through their teeth.
The government didn't just hand out furlough cash, you had to ask for it and supply details of who was going to be paid what.
If the person you're talking about got £50,000, it's because they lied on their application form. You should report them.
Here is another one for you a dude been running a garage from a unit for years never payed tax on disability now pip gets 10k from the local authority. Nothing is joined up.
I agree with you that nothing is joined up, and that some people claim cash that they don't deserve.
What I don't agree with is that anyone got given a cheque for furlough without filling in the form. There weren't a lot of checks and balances, but no one got given money without asking for it.
Ask yourself how that bloke managed to cash the cheque, since he said he closed his business 5 years before, and banks will freeze an account if the company gets shut down.
He did not cash it."
This has been a great story, must be something in the air tonight  |
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By *ercuryMan
over a year ago
Grantham |
"I am aware of someone who closed their business down 5 years ago and they received a 50k cheque for furlough
Hope you are going to report them?
No
The person questioned how they could receive it when they had no business, guess what nothing to see go away and shut up.
They are lying through their teeth.
The government didn't just hand out furlough cash, you had to ask for it and supply details of who was going to be paid what.
If the person you're talking about got £50,000, it's because they lied on their application form. You should report them.
Here is another one for you a dude been running a garage from a unit for years never payed tax on disability now pip gets 10k from the local authority. Nothing is joined up.
I agree with you that nothing is joined up, and that some people claim cash that they don't deserve.
What I don't agree with is that anyone got given a cheque for furlough without filling in the form. There weren't a lot of checks and balances, but no one got given money without asking for it.
Ask yourself how that bloke managed to cash the cheque, since he said he closed his business 5 years before, and banks will freeze an account if the company gets shut down.
He did not cash it."
A cheque? What's that then?  |
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By *irldnCouple
over a year ago
Brighton |
Sorry @_uddy lane but that first story doesn’t really add up.
The type of fraud that was happening appears to have been dormant companies (there are 000s on Companies House website) were suddenly reactivated. Self cert claims put in for assistance (be that furlough of non existent staff or grant payments) and then those dormant companies miraculously went bust and closed.
Another type was some companies claiming furlough money BUT the staff still actually working meaning these companies were able to cover 80% of their wage bill allowing the directors to retain the money that would have originally paid this via increased “profit” / reduced costs snd therefore bigger dividends. There were a few who got caught. Wonder how many didn’t? |
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"Corruption at the highest level,who is going to be held accountable for this?
No one. People will still vote Tory because "what about those lads in a dinghy! Coming over 'ere" etc.
Two wrongs? "
One wrong and one distraction designed to make people think they should keep voting Tory no matter what. |
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"Corruption at the highest level,who is going to be held accountable for this?
No one. People will still vote Tory because "what about those lads in a dinghy! Coming over 'ere" etc.
Two wrongs?
One wrong and one distraction designed to make people think they should keep voting Tory no matter what."
So 700 mainly young men arriving illegally in just one day, no ID, no idea who they are or where they are from is alright? |
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By *otMe66Man
over a year ago
Terra Firma |
"Corruption at the highest level,who is going to be held accountable for this?
No one. People will still vote Tory because "what about those lads in a dinghy! Coming over 'ere" etc.
Two wrongs?
One wrong and one distraction designed to make people think they should keep voting Tory no matter what.
So 700 mainly young men arriving illegally in just one day, no ID, no idea who they are or where they are from is alright?"
700 x £2000 = £1.4 million to the trafficking gangs.
The gangs instruct them to lose any ID, which is all part of the service.
We have gone in circles on this one.
To put it simply the lack of government intervention, drives the issues you are concerned about. The government proposes action against the migrants, not the gangs, they have got it wrong, how do I know this? Because 700 crossed a dangerous piece of water, with no ID as you report. |
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"Corruption at the highest level,who is going to be held accountable for this?
No one. People will still vote Tory because "what about those lads in a dinghy! Coming over 'ere" etc.
Two wrongs?
One wrong and one distraction designed to make people think they should keep voting Tory no matter what.
So 700 mainly young men arriving illegally in just one day, no ID, no idea who they are or where they are from is alright?"
As fun as it would be to keep discussing your irrational fears about foreigners. I don't think it will add anything to this thread. |
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"Corruption at the highest level,who is going to be held accountable for this?
No one. People will still vote Tory because "what about those lads in a dinghy! Coming over 'ere" etc.
Two wrongs?
One wrong and one distraction designed to make people think they should keep voting Tory no matter what.
So 700 mainly young men arriving illegally in just one day, no ID, no idea who they are or where they are from is alright?
700 x £2000 = £1.4 million to the trafficking gangs.
The gangs instruct them to lose any ID, which is all part of the service.
We have gone in circles on this one.
To put it simply the lack of government intervention, drives the issues you are concerned about. The government proposes action against the migrants, not the gangs, they have got it wrong, how do I know this? Because 700 crossed a dangerous piece of water, with no ID as you report. "
They were saying £4500 per person and advertised on Tik tok. And still thru come. It’s a security threat, an embarrassment to this country and a cost that we can’t afford. Clearly there is no will from the EU or France to help end this ongoing invasion of young men.
Flood the beaches with people armed with an implement that can disable (puncture) the boats but cannot be used as a weapon by desperate people. Sustained effort for day three months should bring it to an end. |
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"Flood the beaches with people armed with an implement that can disable (puncture) the boats but cannot be used as a weapon by desperate people. Sustained effort for day three months should bring it to an end."
Presumably you mean that we should send people over to flood French beaches, since there's not a lot of point puncturing the boats once they've arrived.
I'm not sure that the French would like that idea. |
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"Flood the beaches with people armed with an implement that can disable (puncture) the boats but cannot be used as a weapon by desperate people. Sustained effort for day three months should bring it to an end.
Presumably you mean that we should send people over to flood French beaches, since there's not a lot of point puncturing the boats once they've arrived.
I'm not sure that the French would like that idea."
I do mean on the French beaches yes. |
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"Flood the beaches with people armed with an implement that can disable (puncture) the boats but cannot be used as a weapon by desperate people. Sustained effort for day three months should bring it to an end."
"Presumably you mean that we should send people over to flood French beaches, since there's not a lot of point puncturing the boats once they've arrived.
I'm not sure that the French would like that idea."
"I do mean on the French beaches yes. "
We'll need a lot of people to effectively cover all of France's beaches, probably several thousand unemployed able-bodied men. Where on earth could we find that sort of labour force? |
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"Flood the beaches with people armed with an implement that can disable (puncture) the boats but cannot be used as a weapon by desperate people. Sustained effort for day three months should bring it to an end.
Presumably you mean that we should send people over to flood French beaches, since there's not a lot of point puncturing the boats once they've arrived.
I'm not sure that the French would like that idea.
I do mean on the French beaches yes.
We'll need a lot of people to effectively cover all of France's beaches, probably several thousand unemployed able-bodied men. Where on earth could we find that sort of labour force?"
No, it’s only a short stretch. Pretty much from Boulogne to Le Touquet. Piece of piss! |
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"Sorry @_uddy lane but that first story doesn’t really add up.
The type of fraud that was happening appears to have been dormant companies (there are 000s on Companies House website) were suddenly reactivated. Self cert claims put in for assistance (be that furlough of non existent staff or grant payments) and then those dormant companies miraculously went bust and closed.
Another type was some companies claiming furlough money BUT the staff still actually working meaning these companies were able to cover 80% of their wage bill allowing the directors to retain the money that would have originally paid this via increased “profit” / reduced costs snd therefore bigger dividends. There were a few who got caught. Wonder how many didn’t? "
Maybe his ex wife applied for it all I know he did not accept it. |
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By *rFunBoy OP Man
over a year ago
Longridge |
Getting on the wrong side of HMRC and Insolvency Services would become ones worst nightmare.
Friend took HMRC to court over Import loophole that was unfair. He won the case and paid back £1million. The only problem being, he'd pissed them off, so they came back with a fine tooth comb and went through all his business dealings.
He wasn't squeaky clean, 8 years in and out of prison, by the time they'd finished, he'd lost.
2x very profitable businesses
3x £million houses
2x expensive houses in Spain
1x property development in Bulgaria
2x £million Yachts
4x collectors cars
And much more..
They left him with nothing, legal aid was fixed and deliberately set at a rate to bankrupt, Barrister fees to fight his cases, travelling expenses and other costs.
Although he won, he sure lived to regret ever taking them on. |
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"Getting on the wrong side of HMRC and Insolvency Services would become ones worst nightmare.
Friend took HMRC to court over Import loophole that was unfair. He won the case and paid back £1million. The only problem being, he'd pissed them off, so they came back with a fine tooth comb and went through all his business dealings.
He wasn't squeaky clean, 8 years in and out of prison, by the time they'd finished, he'd lost.
2x very profitable businesses
3x £million houses
2x expensive houses in Spain
1x property development in Bulgaria
2x £million Yachts
4x collectors cars
And much more..
They left him with nothing, legal aid was fixed and deliberately set at a rate to bankrupt, Barrister fees to fight his cases, travelling expenses and other costs.
Although he won, he sure lived to regret ever taking them on."
I read that and all I could think of was the adage, there are only two things certain in life, Death & Taxes! |
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By *irldnCouple
over a year ago
Brighton |
"Corruption at the highest level,who is going to be held accountable for this?
No one. People will still vote Tory because "what about those lads in a dinghy! Coming over 'ere" etc.
Two wrongs?
One wrong and one distraction designed to make people think they should keep voting Tory no matter what.
So 700 mainly young men arriving illegally in just one day, no ID, no idea who they are or where they are from is alright?
700 x £2000 = £1.4 million to the trafficking gangs.
The gangs instruct them to lose any ID, which is all part of the service.
We have gone in circles on this one.
To put it simply the lack of government intervention, drives the issues you are concerned about. The government proposes action against the migrants, not the gangs, they have got it wrong, how do I know this? Because 700 crossed a dangerous piece of water, with no ID as you report.
They were saying £4500 per person and advertised on Tik tok. And still thru come. It’s a security threat, an embarrassment to this country and a cost that we can’t afford. Clearly there is no will from the EU or France to help end this ongoing invasion of young men.
Flood the beaches with people armed with an implement that can disable (puncture) the boats but cannot be used as a weapon by desperate people. Sustained effort for day three months should bring it to an end."
This thread just proved the point re DISTRACTION!!!
The thread is about Covid loan/furlough fraud but guess what, we are talking about dinghies! |
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By (user no longer on site)
over a year ago
|
"Another Conservative waste of taxpayers money overseen by the Chancellor claiming he dud good things and now seeking to be our next Prime Minister. Add this to the PPE Scandal, the Furlough Scandal and the COVID app Scandal.
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found.
Hundreds of directors, who got loans they were not entitled to, have also been disqualified.
A total of 1.5 million loans worth £47bn were handed out. One of several measures designed to help businesses survive the pandemic, the loans were supposed to be paid back within 10 years. But in the rush to save the economy, checks on borrowers were limited.
Under the scheme any small company could apply for a loan of up to £50,000 depending on its turnover. Applicants were allowed to "self-certify" the figures.
Many were applied for by Dormant Companies, others were non viable and monet was taken by Directors who then closed the company to destroy liability to repay."
A clear case Where politics and practicality diverge.
Give money to keep us in power, a nice fat bung to those people who matter and not us. |
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By *rFunBoy OP Man
over a year ago
Longridge |
The figure quoted at the top of this post was wrong!!
So needed an update.
The actual value they've allowed to be stolen is £1,100,000,000.
Yes - a whopping £1.1 billion.. report is put Monday. |
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