Director Banned for 11 Years Over Dodgy £45k Bounce Back Loan Scam
Selvendran Ramar has been slapped with an 11-year ban after raking in a £45,000 Bounce Back Loan his company wasn’t entitled to. He was the sole director of SJSA Ltd, supposedly providing temp nursing staff to hospitals and care homes, but the company never actually qualified for the taxpayer-backed cash.
Loan Stolen From NHS Staff Agency That Barely Traded
SJSA Ltd was incorporated on 30 March 2020 – too late to qualify for the Bounce Back Loan scheme, which only covered businesses trading before 1 March 2020. But Ramar fibbed about the company’s turnover, claiming £180,000 a year when in reality it had just £5,500 income for the first three months.
Despite this, SJSA Ltd secured a £45,000 Bounce Back Loan. Ramar quickly transferred £35,000 straight into his own pocket and sent £10,000 to a family member.
Company Liquidated, Investigation Launched
SJSA Ltd went belly-up in September 2021, triggering an Insolvency Service probe. At liquidation, the only debt declared was the full £45,000 Bounce Back Loan. The liquidator managed to claw back £25,000 of it.
Insolvency Service Hits Back
“Not only was Selvendran Ramar’s company not trading by the required 1 March 2020 date and therefore not entitled to receive the Bounce Back Loan, but he then tried to divert the funds for his personal use,”
said Lawrence Zussman, Deputy Head of Company Investigations at the Insolvency Service.
“Within four days of the company receiving the funds, he transferred £35,000 into his own account and paid the remaining £10,000 to a family member. The purpose of the Bounce Back Loan scheme was that businesses were meant to utilise the monies specifically for the ‘economic benefit of the business’ which was clearly not the case here.”
Ramar accepted a disqualification undertaking and will be banned from running, promoting, or managing any company without court permission until December 2033.
