Legal News

Insolvency Service reports letting agent given 11-year ban for abuse of BBLS

Published on: 23 December 2022
Published by LNB News

LNB News 23/12/2022

Document Information

Issue Date: 23 December 2022

Published Date: 23 December 2022

Jurisdiction(s): England

Article summary

The Insolvency Service has reported that Laszlo Szabo, sole director of Letting Base Ltd, has received an 11-year ban, which began on 12 December 2022, after repeatedly abusing the Bounce Back Loan Scheme (BBLS). According to the Insolvency Service, Szabo claimed two loans and a top-up, totalling £100,000 from two different banks, and attempted to claim a further £50,000, which was rejected. The Insolvency Service has said an investigation was triggered when Letting Base went into liquidation in 2022 as it owed more than £234,000, £100,000 of which was the Bounce Back Loans. Investigators found that for every application, Szabo signed a declaration stating it was his only application, and that Letting Base was entitled to the money he was applying for.

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