Sheffield Directors Banned Over Covid Loan Scandal
Two Sheffield men have been hit with hefty bans after ripping off the government’s Covid Bounce Back Loan scheme. Michael Andrew Higgins, 56, and Dean Emanuel Miller, 41, have been disqualified as directors for a combined 17 years. Both abused the emergency loans intended to support struggling businesses during the pandemic.
Higgins Faked Turnover to Snag £20,000 Loan
Michael Higgins ran Steel Rigging Ltd, a firm offering driving services for outdoor TV shoots. He claimed a 2019 turnover of £80,000 when applying for a £20,000 Bounce Back Loan in November 2020. In reality, the company made less than half that – about £40,000. Yet Higgins pocketed the full loan amount.
Steel Rigging Ltd went bust in December 2021, still owing nearly £24,000, including the entire loan. Investigators found Higgins transferred the £20,000 straight into his personal bank account over just three weeks – with no proof the cash helped the business.
Miller’s Fitness Firm Lied About Trading Activity
Dean Miller, director of IBODYTALKS Ltd, an online fitness business, applied for a massive £42,000 loan in May 2020. He claimed the firm was dormant until April 2020 and estimated a turnover of £168,000. But accounts showed the company was actually trading from December 2019, raking in closer to £101,000. Miller thus claimed over £16,700 more than entitled.
After the loan, Miller moved £41,000 to a linked company without evidence it benefited IBODYTALKS Ltd. The business folded in October 2021, prompting the Insolvency Service probe.
Long Bans Send Strong Message
Both men accepted disqualification orders – Higgins banned for eight years starting January 2023, Miller for nine years from February 2023. They are barred from running or forming any company without court approval.
Lawrence Zussman, Deputy Head of Company Investigations at the Insolvency Service, said:
“Covid support schemes were a lifeline to businesses across the UK, protecting jobs and preserving businesses.
Michael Higgins and Dean Miller abused the scheme, and their lengthy bans should serve as a reminder to others that the Insolvency Service will not shirk from its responsibility in taking action in order to protect the public and the taxpayer.”
