Another prison sentence for bounce back loan fraud

Kulwinder Singh Sidhu had owned his haulage company for 10 years when he decided to apply for a bounce back loan. Sidhu took out the loan on 9 June 2020 and had all money paid into the company account. Shortly after receipt of the funds, Sidhu transferred all of the funds into his personal account. On 26 June 2020, Sidhu filled out paperwork to dissolve his company with Companies House.

Sidhu pleaded guilty to charges and was sentenced to 12 months imprisonment, disqualified as a director for 6 years and the confiscation order for the £50,000.

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