The previous proprietor of Good Tyre Companies has been disqualified from being an organization director for defrauding the Authorities-backed bounce again mortgage scheme launched within the COVID pandemic.
Shkelzen Gashi, who ran Good Tyres Companies from Harringay Highway in North London between 2015 and 2022, was discovered to have verstated his firm’s earnings by virtually double the precise determine when making use of for the COVID-19 help mortgage in 2020 with a purpose to declare the utmost £50,000 help.
Good Tyres Companies was entitled to a mortgage of £33,600 based mostly on its precise turnover of £134,401 for the 2019 calendar 12 months, nonetheless Gashi had falsely declared an earnings of £250,000 on the appliance type.
On account of this false declaration, the corporate obtained the total £50,000 mortgage in October 2020.
Following an investigation by the Insolvency Service, Gashi was disqualified as an organization director till April 2035.
At a Excessive Court docket listening to in Birmingham on April 2nd, he was additionally ordered to pay prices of £5,333. Moreover, Gashi has repaid £8,000 of the obtained Bounce Again Mortgage.
Kevin Learn, chief investigator on the Insolvency Service, said that Gashi had blatantly overstated his firm’s turnover to obtain considerably extra Covid help than he was entitled to. He added that Gashi had failed to supply an evidence for his actions regardless of quite a few alternatives to take action.
Learn emphasised that the Bounce Again Mortgage scheme concerned taxpayers’ cash and that Gashi would now be unable to be concerned within the promotion, formation, or administration of an organization for the subsequent decade as a consequence of his dishonest conduct.
Good Tyres Companies, integrated in Could 2015 with Gashi as the only real director and shareholder, ceased buying and selling in August 2022 with liabilities exceeding £100,000.
A separate non-related tyre store at the moment operates from the identical tackle.
