Case details for Cigdem Garip

Name: Cigdem Garip

Name: Deniz Kesen Ltd

Date of Birth: 14 / 6 / 1991

Date Order Starts: 1 / 12 / 2023

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 11770778


Conduct: On 22 June 2020 Mrs Cigdem Garip (“Mrs Garip”) caused Deniz Kesen Ltd (“Deniz Kesen”) to apply for a Bounce Back Loan (“BBL”) of £50,000 using overstated turnover figures, which resulted in Deniz Kesen obtaining a BBL that was larger than it was entitled to. • 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 was their estimated annual turnover from the date the business started. Deniz Kesen was incorporated on 16 January 2019 and started to trade in March 2019; • On 22 June 2020 Mrs Garip applied for a BBL of £50,000 on behalf of Deniz Kesen declaring that its estimated annual turnover was £250,000; • Deniz Kesen’s accounts for the period ended 31 January 2020 disclose a turnover of £88,515 with further income into the bank account of £12,217 to 31 March 2020; • Deniz Kesen received the BBL funds of £50,000 on 23 June 2020, based on twelve months turnover from the start of business the company would have been eligible for a BBL of at most, £25,183; • Total liabilities at liquidation were stated to be £57,801, of which £50,000 relates to the amount owed in respect of the BBL. 

This information is correct as at 14 / 11 / 2023

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