Home / Crime and Justice / Car Dealer Owes £66k After Covid Loan Abuse
Car Dealer Owes £66k After Covid Loan Abuse
10 Aug
Summary
- Second-hand car dealer Javid Akhtar ordered to repay £66,917.
- He falsely inflated company turnover to secure a COVID loan.
- Failure to repay could result in six months imprisonment.
A second-hand car dealer has been ordered by a court to repay a substantial sum after being found to have exploited a Covid loan scheme. Javid Akhtar, aged 53 and from Bradford, received a confiscation order for £66,917.
This action followed his guilty plea at Bradford Crown Court for overinflating his company's turnover. Akhtar had applied for the maximum £50,000 Bounce Back Loan in May 2020, claiming an annual business turnover of £400,000.
He later disclosed significantly lower figures to the Insolvency Service. In March, Akhtar was sentenced to 20 months imprisonment, suspended for two years, alongside an order to complete 250 hours of unpaid work.
Akhtar has been granted three months to repay the full loan amount. Should he fail to meet this deadline, he faces a potential six-month prison sentence, in addition to still being liable for the repayment.
