An Arnold man has been given a six year director ban after misusing a £50,000 government loan. Lee Mankelow, 42, claimed the money from the Bounce Back Loan scheme during the pandemic.
The scheme was set up to help small and medium sized businesses during the coronavirus outbreak, with a maximum loan of £50,000. Mankelow claimed the full amount to support his timber company, Wolf Timber Ltd, which had a registered office address in Nottingham.
However, he paid all the loan to a former director of the company which breached the terms. Wolf Timber Ltd entered into liquidation in December 2020, which was before Wolf Timber Ltd’s insolvency triggered an investigation by the Insolvency Service.
