Case details for David Michael BAILEY-LAURING

Name: David Michael BAILEY-LAURING

Name: Blu Mint Digital Ltd

Date of Birth: 5 / 10 / 1980

Date Order Starts: 18 / 5 / 2022

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 11980504

Last Known Address: 14 Glebeside Avenue,, , , , WORTHING,, BN14 7PR

Conduct: On 07 May 2020, David Michael Bailey-Lauring (“Mr Bailey-Lauring”) caused Blu Mint Digital Ltd (“BMD”) to overstate its turnover on its application for a Bounce Back Loan (“BBL”) resulting in BMD receiving funds of £33,000 to which it was not entitled. In that: • The BBL criteria allowed a business to borrow between £2,000 and up to 25% of the company turnover, with a maximum loan of £50,000 for the purpose of a business carried on or intended to be carried on by the applicant; • The BBL scheme states that if the business was established after 01 January 2019, turnover will need to be estimated. The turnover figure, even if self-certified by the applicant with no checks or evidence required, cannot be over-estimated by more than 25% in order to obtain a larger loan; • On 07 May 2020, he applied for a BBL of £33,000 for BMD stating the estimated turnover as £133,000 on the application form which was based on the turnover of an associated company registered in another country; • Company records and bank statements for BMD show sales income of £1,169 for the period from 07 May 2019 (incorporation) to 06 May 2020 (the date before the BBL was applied for); • On 11 May 2020, BBL funds of £33,000 were paid into BMD’s bank account; • At liquidation, £33,000 remained outstanding in respect of the BBL. 

This information is correct as at 28 / 4 / 2022

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