Insolvency Service reports athlete sentenced for £100,000 BBL fraud
The Insolvency Service has reported that world sprint champion Rick Beardsell has received an 18‑month suspended prison sentence for fraudulently obtaining two maximum bounce back loans (BBL) totalling £100,000. Beardsell secured the loans for his company, Sports Creative Limited, in 2020 and 2021 by inflating turnover figures, thereby violating scheme rules that prohibit multiple loans. He used £83,900 of the funds to help purchase a £1.3m property in Prestbury, Cheshire. The sentence also requires 250 hours of unpaid work and an order to pay £11,152 in costs. Beardsell has repaid the full £100,000.