Hammersmith Man Caught Faking Business for £50k Covid Loan
Rian O’Keeffe, 28, from Lisgar Terrace, Hammersmith, has been slapped with an 18-month suspended jail term for scamming a £50,000 Bounce Back Loan designed to help businesses during the pandemic.
18 Months Suspended, Curfew, and Rehab for Loan Fraud
Southwark Crown Court handed down the sentence on April 30. O’Keeffe’s jail time is suspended for two years. He must also stick to a three-month curfew and complete 30 days of rehabilitation activities.
Phoney Business ‘Trainersource’ Never Existed
Back in July 2020, O’Keeffe pocketed the government loan by claiming it was for his fake company, Trainersource. He falsely declared a whopping £312,000 turnover in March that year – a total fabrication.
“O’Keeffe abused the Bounce Back Loan Scheme, diverting funds meant for businesses to his own personal use,” said Julie Barnes, Chief Investigator at the Insolvency Service.
Confessed: Loan Used for Living Expenses, Not Business
During questioning, O’Keeffe admitted he never started any business and had no plans to. Instead, he moved the money straight into personal accounts, squandering it on general living costs.
His fraud landed him bankrupt in November 2021. He also accepted a 12-year Bankruptcy Restrictions Undertaking in October 2022, barring him from being a company director or holding other positions of responsibility.
Warning Shot Over Covid Loan Fraud
The case is a stark reminder that authorities are cracking down hard on Covid relief scams. Anyone thinking of ripping off government schemes should think twice.
