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.
To continue reading this news article, as well as thousands of others like it, sign in with LexisNexis or register for a free trial