Name: Ionut-Iulian Ungureanu

Name: RAISE THE WORLD LTD

Date of Birth: 30 / 6 / 1989

Date Order Starts: 10 / 3 / 2025

Disqualification Length: 11 years Years 0 Month(s)

CRO Number: 11116553

Last Known Address: Flat 24, Kings Court, 353 Caledonian Road,, , , , LONDON,, N7 9DA

Conduct: On 20 May 2020, Ionut-Iulian Ungureanu (“Mr Ungureanu”) provided knowingly inaccurate information concerning the turnover of Raise the World Ltd (“the Company”) and a Bounce Back Loan (“BBL”) totalling £50,000 was obtained, being £50,000 more than it was entitled to. Furthermore, Mr Ungureanu failed to use the BBL funding for the economic benefit of the Company, contrary to the terms of the BBL scheme. In that: • Raise was incorporated on 18 December 2017. Mr Ungureanu were appointed as the sole director throughout trading. • A bank account was opened with Lloyds bank. • Accounts filled for the year ending 31 December 2019 show that the Company had received income of £3,130. This does not match the credits of £314.16 received into the bank account. • Raise was not entitled to a BBL of any amount as it did not reach the minimum turnover criteria of £8,000. • On 20 May 2020, Mr Ungureanu applied to Lloyds for a BBL of £50,000 stating the turnover was £200,000. • On 20 May 2020, the BBL proceeds of £50,000 were credited to Raise’s bank account. • Between 01 June 2020 and 26 October 2021 credits were paid into the Lloyds bank account totalling £7,099. It is not known if the credits were in relation to business income. • Between 26 May and 20 December 2020 Mr Ungureanu transferred the sum of £39,610 to his personal account with the narrative ‘salary’. • Between 29 June and 14 August 2020, Mr Ungureanu transferred the sum of £9,630 to his personal account with the narrative ‘capital/expenses’. • Between15 and 22 November 2020, Mr Ungureanu transferred the sum of £1,500 to his personal account with the narrative ‘dividends’. • No payments were made in respect of the BBL. • At liquidation, the claim recorded in the Statement of Affairs was £50,000. 

This information is correct as at 17 / 2 / 2025

If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.