Case details for Georgi KOLEV

Name: Georgi KOLEV


Date of Birth: 8 / 7 / 1979

Date Order Starts: 6 / 12 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11464984

Last Known Address: 18 Yarrow Place,, , , , Conniburrow,, MK14 7AX

Conduct: On 3 August 2020 Georgi Kolev (“Mr Kolev”) caused GK Invest Ltd (“GK”) to obtain a Bounce Back Loan (BBL) of £49,700 using overstated turnover figures in the loan application form, when the company would have been entitled to a maximum loan of £5,516. Consequently, GK received more monies than it was entitled to from the BBL scheme. From the loan proceeds received, he used £46,000 of those monies for his own personal benefit. In that: • On 3 August 2020 GK obtained a BBL of £49,700 despite its turnover for the period 16 July 2018 to 31 July 2019 being only £15,354 (turnover for the year 31 July 2020 was only £22,062). A business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover in calendar year 2019. • Between 5 August 2020 and 7 August 2020 £49,000 was paid to a third party. On the 7 August the third party paid £46,000 to him. The terms of the BBL stated that its intended purpose was to provide economic benefit to the business and not for personal purposes. • Having received the BBL of £49,700 on 3 August 2020, he used £46,000 for personal benefit on 7 August 2020. • On 7 October 2021 GK entered into creditors’ voluntary liquidation with liabilities of £49,700 which is owed in respect of the BBL. 

This information is correct as at 15 / 11 / 2022

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