Our Bounce Back Loan Scheme Fraud Defence Team
Because we specialise in defending the entire range of criminal fraud charges, our top-rated team of expert fraud defence lawyers repeatedly obtain successful outcomes for our clients.
Whether obtaining acquittals for high profile fraud cases involving celebrities or international politicians or in the biggest UK direct tax fraud ever, our track record of successful criminal fraud defence time-after-time, speaks for itself.
Bounce Back Loan Scheme Fraud | The issues our expert fraud lawyers know
In order to approve the Scheme quicker than usual, the Government imposed less strict eligibility criteria than other business-related loan schemes. Businesses simply had to show that they:
– were based in the UK;
– were established before 1st March 2020; and
– had been adversely impacted by Corona-virus.
Businesses were able to self-certify in relation to other checks, there were no formal credit checks performed by lenders for existing customers, and initially businesses were able to make multiple claims to various banks from individual employees, resulting in numerous claims per business.
These looser checks and balances led to serious concerns for fraudulent applications, including concerns raised about impersonation of legitimate businesses and a lack of proof of legitimate business.
Indeed, The Financial Times reported that over £1 billion in fraudulent applications from almost 27,000 people had been rejected between May-November 2020.
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Prosecuting Bounce Back Loan Scheme (BBLS) Alleged Fraud Offences
- fraud by false representation (section 2 Fraud Act 2006);
- fraud by failing to disclose information (section 3 of the Fraud Act 2006); and
- fraud by abuse of position (section 4 of the Fraud Act 2006).
Knowing how to disclose your business affairs to those investigating you can be worrying and requires expert legal advice right from the start. Our expert fraud lawyers have extensive experience from cases investigated and prosecuted under the Fraud Act.
Account Freezing & Forfeiture Orders | Bounce Back Loan Scheme Investigations
Arrests in relation to this type of fraud can include Account Freezing Order, which can be applied for where there are reasonable grounds to suspect that an account contains property obtained through unlawful conduct, or which is intended for use in unlawful conduct.In relation to fraudulent loans, this is likely to be a relatively low threshold but can have a drastic impact on finances or access to funds. These Orders are often made ‘ex parte’ – which means without notice to the owner of the funds.
Once an investigation has taken place, if the test is met, a Forfeiture Order can be made for those funds. Dealing with these Orders, particularly if you are notified after the accounts are frozen which is often the case, can feel impossible.
The experience Bark & Co have in dealing with these Orders puts you back on the front foot in knowing what to do next and how best to protect your assets from the outset.
Contact our Top-rated Bounce Back Loan Fraud Defence Lawyers
We are widely recognised as one of the very best specialist criminal fraud defence law firms in the UK. As we specialising in defending the entire range of criminal fraud charges, including Corona virus / Covid 19 fraud in the form of Bounce Back Loan Scheme fraud, selecting our expert specialist solicitor defence team to robustly defend you gives you the very best chance of a successful outcome.