Name: Constantin Paraschiv

Name: PARACON TRANS LTD

Date of Birth: 24 / 1 / 1990

Date Order Starts: 28 / 1 / 2025

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 11495673

Last Known Address: 106 Mallows Green, , , , Harlow, CM19 5SB

Conduct: On 03 December 2020, Mr Constantin Paraschiv ("Mr Paraschiv"), caused Paracon to breach the terms and conditions of the Bounce Back Loan ("BBL") scheme by overstating its turnover on the BBL application, resulting in Paracon receiving more funds than it was entitled to. Furthermore, funds totalling £28,002 received from the BBL scheme were not used for the economic benefit of Paracon. • Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019, or where a business was established after 01 January 2019 it is their estimated annual turnover from the date that the business was started. The BBL scheme also required the applicant to declare that the BBL funds would be used for the economic benefit of the business. • Paracon was incorporated on 01 August 2018 and commenced trading at this time. • On 03 December 2020 Mr Paraschiv made an application for a BBL on behalf of Paracon in the amount of £44,500 stating that its turnover was £178,000. • Accounts prepared in relation to Paracon for the period ended 31 August 2019 show that its turnover was £34,286. • Paracon’s bank statements for the calendar year 2019 show receipts totalling £37,439. Based on this turnover Paracon was entitled to a maximum BBL of £9,360. By making an application for £44,500 Paracon received £35,140 more than it was entitled to. • BBL funds totalling £44,500 were received into Paracon's bank account on 21 December 2020. • Between 01 January 2021 and 20 June 2022 16 payments totalling £21,596 were made to an exchange platform for sending money overseas. • Between 08 February 2022 and 09 August 2022 7 payments totalling £4,864 were made from Paracon’s bank account. • Mr Paraschiv stated that the 23 payments were made to family members who had supported him. • Between 02 March 2022 and 20 June 2022 Paracon had a series of 11 transactions with a trading platform which resulted in net payments from Paracon of £1,542. • Transactions totalling £28,002 made from the BBL funds were not for the economic benefit of the Paracon. • Repayments totalling £3,949 were made in relation to the BBL. • At the date of liquidation Paracon had liabilities totalling £41,473 of which £41,373 related to the BBL. 

This information is correct as at 14 / 1 / 2025

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