Dion Perry Mailich, a Borehamwood accountant, has been banned from running a company for 12 years and ordered to pay £75,000 in compensation after abusing the Bounce Back Loan scheme. Here are the key details:
- Background: Dion Perry Mailich was a director of Renovare Financial Service Ltd, a company that supported ex-offenders in their reintegration after prison. The company went into liquidation in December 2022, triggering an investigation by the Insolvency Service into Mailich’s conduct.
- Loan Applications: In May 2020, Mailich applied for a £25,000 Bounce Back Loan on behalf of the firm, which was the maximum amount the business was eligible for based on its previous year’s turnover. However, he subsequently applied for a second loan of £50,000 less than two weeks after receiving the first, and then made a third loan application of £50,000 in June 2020. In total, Renovare Financial Services Ltd received five times what it was entitled to under the scheme.
- Penalties: Dion Perry Mailich has been disqualified as a director for 12 years and has committed to paying £75,000 in compensation. His disqualification prevents him from being involved in the promotion, formation, or management of a company without court permission.
- Warning to Others: The Chief Investigator of Insolvent Investigations North at the Insolvency Service, Rob Clarke, emphasized that such abuse of public money would not be tolerated. This outcome serves as a warning to other company directors that action will be taken against cases of abuse.
The Bounce Back Loans were a government scheme designed to help businesses during the Covid pandemic, allowing companies to apply for loans ranging from £2,000 to £50,0001.
