Insolvency Service reports director sentenced for £150,000 coronavirus (COVID-19) BBL fraud
The Insolvency Service has reported that the director of Bebo Construction Limited, Adebayo Talabi, has received a two-year suspended sentence, an unpaid work order and a six-year disqualification from acting as a company director. Talabi pleaded guilty to three counts of fraud by false representation at Southwark Crown Court on 24 February 2026. An investigation by the Insolvency Service found that, between August and November 2020, Talabi applied for three separate coronavirus (COVID-19) Bounce Back Loans (BBLs) totalling £150,000. He overstated the company's turnover to between £200,000 and £220,000 to obtain the maximum £50,000 from each lender, despite the company being entitled to approximately £1,300. The investigation further found that the loan funds were transferred to personal accounts rather than used for the company's economic benefit, as required under the scheme. Talabi also falsely stated in the second and third loan applications that they were the company's first and only applications.