Ex-Military Candidate Misused Covid Loan
Glasgow News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Reform UK Candidate Banned for Misusing Covid Loan: A British Army Veteran, Stuart Niven, who took a £50,000 taxpayer-backed Covid loan for his company, Britannia Maritime Security, is banned from being a company director for seven years after transferring the full amount to his personal account. The company went into liquidation with nearly £200,000 in creditor claims, and Niven is accused of causing a breach by diverting at least £41,677 from the loan. Despite the loans purpose, only a small payment was made towards repaying it, leaving almost £50,000 owed. Nivens company provided security for ships in pirate-heavy waters, but its finances collapsed during the pandemic, with net assets dropping from over £100,000 in 2017 to just over £1,000 by 2022. Bounce Back Loans were a quick government lifeline for small businesses, but cases like this highlight misuse risks.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/2f4aac193a151bb1