A taxi and delivery driver from Ilford, East London, has been hit with 11 years of stringent bankruptcy restrictions after falsely claiming two Bounce Back Loans totaling
£100,000 during the COVID-19 pandemic.
Hafiz Saeed Ahmad, 47, of Meath Road, Ilford, inflated the turnover figures for his two businesses—Sanwal Deliveries and Distribution, and his taxi company—in order to fraudulently secure the maximum loan amount of £50,000 each.
Despite receiving the loans, Ahmad failed to use the funds to support his businesses, which is a requirement under the loan scheme. He declared bankruptcy in February 2024, prompting an investigation by the official receiver, who found that Ahmad had provided false information to claim more money than he was entitled to under the scheme.
Samantha Crook, Deputy Official Receiver at the Insolvency Service, commented, “Hafiz Ahmad abused taxpayers’ money not once, but twice, taking out two separate loans based on false information, claiming more money than his businesses were entitled to receive. These long-lasting restrictions will help to protect people from financial wrongdoing by limiting Ahmad’s access to credit and making others aware that there are sanctions against him”.
The investigation revealed that Ahmad initially claimed £50,000 for his delivery business in July 2020 and later applied for another £50,000 loan for his taxi business in September 2020. Both loans were secured under false pretenses, with Ahmad overstating the turnover of his businesses to qualify for the maximum loan amounts.
As a result of his actions, Ahmad was subjected to an 11-year Bankruptcy Restrictions Undertaking (BRU), which extends his original bankruptcy restrictions from the standard 12 months to 19 August 2035. These restrictions prohibit Ahmad from acting as a company director without court permission, borrowing more than £500 without declaring his restrictions, and holding certain positions within public organizations.
The Secretary of State for Business and Trade accepted Ahmad's BRU on 20 August 2024, solidifying the extended sanctions against him. Photo by Oxyman, Wikimedia commons.