Insolvency Service announces £115,000 confiscation order for BBL fraud
The Insolvency Service has announced a confiscation order mandating a Yorkshire scaffolding company director to repay £115,000 in fraudulently obtained bounce back loans (BBL) plus interest. Mark Degnan, who previously received a two-year suspended sentence in January 2025, has been ordered to repay the remaining £59,578 within six months or face a 12-month prison term. The order follows his conviction for securing two £50,000 loans by falsely claiming his company had a £500,000 turnover, despite dormant accounts showing actual turnover of £162,000. Degnan has already repaid £55,608 and was previously disqualified as a company director for five years.