Case details for MARCUS WELBY

Name: MARCUS WELBY

Name: Welbys International Travel Services Ltd

Date of Birth: 8 / 4 / 1986

Date Order Starts: 24 / 5 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11604116

Last Known Address: 11 Chinley Avenue,, , , , MANCHESTER,, M40 9HT

Conduct: On 28 October 2020, Marcus Welby caused Welby's International Travel Services Ltd ("WITS") to apply for a Government backed Bounce Back Loan ("BBL") totalling 50,000 for which it was not eligible by including false information relating to turnover within the BBL application. Thereafter the BBL was paid into the WITS' Bank Account on 01 November 2020 and was not used in its entirety for the economic benefit of the business. In that: Lending requirements/declarations The BBL Scheme allowed businesses to borrow between 2,000 up to 25% of a business' turnover for the calendar year ended 31 December 2019 with the maximum loan available being 50,000. The BBL application, records that it stated annual turnover for the calendar year ended 31 December 2019 was 225,000. WITS' Bank account was opened on 21 August 2020. The BBL funds paid into this account on 01 November 2020. Analysis of the WITS' other Bank Account records income/turnover of 51,295.30 during calendar year 2019. WITS' financial statements for the years ended 31 October 2019 and 31 October 2020 record turnover figures of 42,377 and 36,218 respectively. A BBL in the sum of 50,000 was subsequently advanced to WITS on 01 November 2020 which would have required WITS' annual turnover for the calendar year ended 31 December 2019 to have been at least 200,000. WITS' bank records and financial statements confirm that the level of turnover declared in the BBL application was significantly overstated. Use of moneys obtained On 01 November 2020 the sum of 50,000 was paid into WITS' Bank Account. Prior to receipt of the BBL, the balance on the Account was nil. Payments in the total sum of 24,237 were paid to Mr Welby from the Bank Account between 05 November 2020 and 06 April 2021. Of this sum, 10,000 paid to Mr Welby on 6 April 2021 was subsequently transferred to WITS' other Bank Account on the same day. On 13 May 2021, the sum of 9,000 was transferred from the other Bank Account to Mr Welby personally. Therefore, Mr Welby personally received the benefit of at least 23,237 paid to him from WITS' bank accounts between 05 November 2020 and 13 May 2021. No other income was received into this account during the same period. Between 02 November 2020 and 05 March 2021, a further 22,246.29 was paid out of WITS' Bank Account relating to transactions the purpose of which are unclear or have no clear commercial benefit to WITS. WITS' BBL remained outstanding in the total sum of 50,000 on liquidation. 

This information is correct as at 24 / 5 / 2022



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