Construction boss penalized for COVID loan fraud

Law360, London (August 25, 2021, 2:15 p.m. BST) – A bankrupt construction boss has had his insolvency restrictions extended for 10 years after accepting a fraudulent loan from the UK COVID-19 program, a government agency has said.

The Insolvency Department said on Tuesday it extended bankruptcy restrictions it placed on scaffolder Lee Hobson after discovering he had applied for and received a fraudulent loan of £ 50,000 ($ 68,500) of the government’s so-called rebound program for those who lost during the coronavirus crisis.

Hobson applied for the loan under the name of a company he no longer worked for, the insolvency department said. He used the money …

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