Name: Ugochukwu Marcus

Name: INV7336201 - UGOCHUKWU MARCUS LTD

Date of Birth: 5 / 8 / 1966

Date Order Starts: 2 / 8 / 2025

Disqualification Length: 11 Years  Month(s)

CRO Number: 11915786

Last Known Address: 27 Upperton Road, , , , LEICESTER, LE3 0BH

Conduct: Mr Ugochukwu Marcus (‘Mr Marcus’) breached the terms of the Bounce Back Loan (“BBL”) Scheme by causing Ugochukwu Marcus Limited (‘UML’) to overstate its turnover on its application for a BBL resulting in the company receiving a BBL of £50,000 that he knew or ought to have known to have known was more than UML was eligible for. Furthermore, Mr Marcus failed to use the BBL funds for the economic benefit of the company. In that:   • The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application.   • If the business was established after 1 January 2019, it should apply the 25% limit to its estimated annual turnover from the date it started business. • The BBL scheme required the funds to only be used to provide economic benefit to the business, and not for personal purposes. • UML was incorporated on 30 March 2019. • UML’s prepared accounts for the year ending 31 March 2020 record an annual turnover of £9,500. • On 20 May 2020, UML applied for a BBL of £50,000. On the application Mr Marcus declared an annual company turnover of £206,000 • On 22 May 2020, UML received the £50,000 BBL funds into the company bank account. • Between 22 May 2020 and 28 May 2020, £49,751 of the BBL funds were transferred to Mr Marcus’ personal account and were not used for the economic benefit of UML. • UML entered Creditors Voluntary Liquidation on 01 June 2023. • At liquidation, UML had liabilities of £59,617 of which £49,457 is outstanding in respect of the BBL. 

This information is correct as at 12 / 8 / 2025

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