Name: Wahid IJAZ

Name: SHIELD SECURITY SOLUTIONS LTD

Date of Birth: 26 / 9 / 1970

Date Order Starts: 17 / 10 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 10925407

Last Known Address: 45 Prospect Vale,, , , , LIVERPOOL,, L6 8PF

Conduct: Mr Wahid Ijaz (“Mr Ijaz”) caused Shield Security Solutions Limited (“SSSL”) to apply for a £50,000 Bounce Back Loan (“BBL”) on 11 August 2020, using overstated turnover figures in the application form. Mr Ijaz further failed to use the loan monies obtained for the economic benefit of SSSL breaching the terms of the BBL scheme. • Companies could apply for a loan of up to 25% of turnover in the calendar year 2019, from a minimum of £2,000 up to a maximum of £50,000. SSSL’s financial statements for the period ending 31 August 2019 (approved by Mr Ijaz on 15 December 2020) record annual turnover at £39,075, which would have allowed SSSL to apply for a maximum BBL of £9,769. • Further SSSL’s Bank statement shows funds received of £37,377.40 between 1 January 2019 and 31 December 2019, which would allow a maximum BBL loan of £9,344. • On the application form Mr Ijaz declared SSSL’s turnover at £230,000 and applied for a £50,000 BBL, more than SSSL was entitled to, based on its 2019 turnover. This was deposited into SSSL’s bank account on 12 August 2020, leaving a credit balance of £54,517. • The terms and conditions of the loan stated that it was to be used only to provide economic benefit to the business, and not for personal purposes. However, after the receipt of the BBL Mr Ijaz caused SSSL to enter into the following transactions which provided no apparent economic benefit to SSSL, • Between 13 August 2020 and 18 August 2021, ATM cash withdrawals were made totalling £13,212. • Between 21 August 2020 and 22 October 2021, payments totalling £19,158 were made to a third party. . Between 13 August 2020 and 12 April 2021, payments totalling £13,700 were made to Mr Ijaz in addition to 2 further payments of £2,000 each, withdrawn on 17 August 2020 and 05 January 2021. . On 24 August 2020, £7,000 was transferred to “Omar St ref payment”. . Bank statements record that after the receipt of the BBL, £68,320 was debited from the account with credits of £13,803, of which £2,491 was transferred in from Mr Ijaz. . The Liquidator reported that SSSL ceased trading on 18 August 2021. . The books and records delivered up to the liquidator by Mr Ijaz are insufficient to clarify the reasons for the above payments. 

This information is correct as at 27 / 9 / 2022

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