Croydon director hit with 13 year ban and compensation order
First compensation order secured in court to repay taxpayer-backed Bounce Back Loan fraudulently secured during the pandemic.
Marian Ghimpu, 58, from Croydon, has been disqualified as a director for 13 years, and ordered to repay over £50,000 to the public purse.
The compensation order, the first secured by the Insolvency Service in court, is the result of abuse of the Bounce Back Loan scheme by Ghimpu during the pandemic.
In October 2020, he took out the maximum £50,000 available despite his company only being eligible for a loan of £2,000, the minimum amount available
The bank accounts for his company, Deea Construct Ltd, showed no activity for a year up to the point when he claimed the loan, and only a handful of small transactions totalling just over £4,000 from a construction firm in the summer of 2019. However, he told his bank his company’s turnover was £200,000.
After receiving the £50,000 loan into the company account, Ghimpu transferred over £40,000 to himself and took the rest out in cash withdrawals.
In April 2021, he put the company into liquidation which triggered an Insolvency Service investigation.
As efforts to recoup the loan money by the liquidator were not successful, the Insolvency Service sought a compensation order against Ghimpu in court.
On 25 July 2023, Chief ICC Judge Briggs at High Court of Justice, Rolls Building imposed a compensation order of £52,163. Ghimpu was given 5 weeks to pay this, to ensure the taxpayer has not lost out.
Nina Cassar, Deputy Head of Investigations at the Insolvency Service, said:
Marian Ghimpu’s actions, providing false information to the bank, allowed Deea Construct Ltd, and himself, to have an unfair advantage over other businesses impacted by COVID-19.
Abuse of taxpayers’ money will not be tolerated and I am delighted we have secured this compensation order. Where there have been similar cases of abuse by company director, we will be seeking further compensation orders and disqualifications.
- Marian Ghimpu is of Croydon. His date of birth is October 1965.
- Deea Construct Ltd (company reg number 11918138) was incorporated in April 2019.
- Persons subject to a disqualification order are bound by a range of restrictions.
- Further information about the work of the Insolvency Service, and how to complain about financial misconduct.
Latest News from
Two companies shut down after £3million fraud against investors22/02/2024 09:25:00
Finance companies Satchi Holdings PLC and Hartreel Ltd wound-up after misleading investors and failing to cooperate with an investigation into the firms’ affairs
Plumber handed suspended sentence for spending Covid loans on holiday, gambling and puppy01/02/2024 11:20:00
Devon plumber given suspended sentence after abusing Bounce Back Loan Scheme for his own personal living expenses.
Six-year ban for boss of collapsed training company who failed to explain £3.5 million spending15/01/2024 10:25:00
London-based director of apprenticeships training provider failed to explain spending that included more than £2.5 million of public funding
Wilko in administration: information for employees and creditors01/09/2023 16:20:00
Wilko went into administration on 10 August 2023. This page provides information on how to claim redundancy or register as a creditor
Former Halifax footballer jailed for 27 months for illegally acting as a company director14/08/2023 10:10:00
Stephen Oleksewycz acted as director of an events promotion business whilst an undischarged bankrupt, and also committed fraud offences.
Tuffnells Parcel Express Limited in administration – claiming redundancy payments and other support15/06/2023 11:25:00
How to claim redundancy and other support as a former Tuffnells employee.
Mentoring and coaching company shut down for financial irregularities07/04/2023 09:05:00
Lighthouse International Group wound up by the High Court in the public interest.
Virtual Infrastructure Group Limited and UKCloud Limited: information for creditors and interested parties23/02/2023 09:10:00
Information for creditors and interested parties of Virtual Infrastructure Group Limited and UKCloud Limited in liquidation.