A crooked family has been locked up for swindling £150,000 from the government’s Covid Bounce Back Loan scheme. Their cash haul funded luxury home makeovers, private school fees, and personal debts, following a hard-hitting National Crime Agency (NCA) probe.
Fake Firms, Fake Claims, Real Jail Time
Kashid Rashid, 53, from Ilford, along with his wife Noreen Malik, 46, nephew Rehaan Mohammed, 32, and brother Rizwan Haider, 61, set up bogus businesses to snag three £50,000 Bounce Back Loans during the pandemic. They lied about how COVID hit their companies and pumped up turnover figures to max out the loans.
[block_2]
A fourth loan application was knocked back after officials found the company was dormant. But by then, the damage was done.
Luxury Living on Dirty Loan Money
The NCA revealed the stolen cash was funnelled to family and linked businesses. It paid for swanky home improvements, school fees, vehicles, and trailers. Shocking voice notes surfaced of Rashid coaching others to create fake invoices to back their loan bids.
