Covid-19 Business Fraud

[10ClarionSt]

I was unable to find a BBC News link to this last Friday but this link carries the report. However, it is 4 months old, so seems to have slipped under the radar. Not bad for a £26bn loss. As stated previously, this was reported on BBC 6 O'Clock News on Thursday Feb 4th, but no-one seems concerned about it, so, hey ho!

[douglas9401]

'this link'?

[Ken4155]

Which link? Hey ho!

[10ClarionSt]

Oooop! Sorry!

https://www.theguardian.com/politics/2020/oct/07/fears-grow-over-uk-firms-ability-to-repay-covid-business-loans

[Zacs-Master]

I’m not sure how this can happen, they are interest free for the first 12 months and then have a 100% Government backed guarantee for lenders. Once the twelve months are up, there is an interest rate of 2.5 per cent per year and repayments can be made to a maximum of 10 years.

[mushroom25]

here's the report from the recent BBC News
https://www.bbc.co.uk/news/av/uk-55970793
and an earlier BBC item
https://www.bbc.co.uk/news/business-54366178

[bobbinwales]

Yes. This valid point was probly missed among all the paragraphs of claptrap in your post yesterday, It was well reported at the time that theres been lots of fraud with UC, furlough and these loans. The problem with the loans is people took them out in others names
https://www.ft.com/content/41d5fe0a-7b46-4dd7-96e3-710977dff81c
Estimates range from a few billion to 26 billion.
Who says no-one seems concerned. Hey ho

[lankeela]

Not sure what is worse - fake news or old news recycled.

[emmie]

the police are involved in trying to track down the fraudsters, so they are definitely interested.

[Peter Pedant]

hey ho
fraud has been covered
and uncovered
and there is viddie of the police raiding this and that

and romanis fleeing up the road being clubbed by the good guys screaming I nart do eet I nart do eet!