Case details for Lucio Marino

Name: Lucio Marino


Date of Birth: 10 / 8 / 1986

Date Order Starts: 5 / 12 / 2023

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 12345477

Last Known Address: 173 CHAMBERLAYNE AVENUE, , , , WEMBLEY, HA9 8ST

Conduct: Lucio Marino (‘Mr Marino’) caused Barlife School and Basil & Sauce Limited (‘the company’) to apply for a government backed Bounce Back Loan (‘BBL’) of £50,000 that it was not eligible for, in that: • The company was incorporated on 3 December 2019. • The BBL scheme rules state that for a company to be eligible for a BBL the business must have been established before 1 March 2020. • Analysis of the company bank statements from 30 April 2020, appear to show that the first business transaction in the bank account was 17 June 2020. No evidence has been provided to show any transactions prior to this, in which case the company was not entitled to a BBL. • If a company was established after 1 January 2019, the BBL application asked for an estimated annual turnover. The BBL scheme rules state that a company was allowed to apply for a loan of up of 25% of their turnover, between £2,000 and £50,000. • The Profit and Loss account for the 13 months to 31 December 2020 show a turnover of £20,070. No explanation has been provided of how the turnover of £260,000, given on the BBL application, was estimated and no evidence has been provided to show this was reasonable. • The company received a BBL of £50,000 on 1 October 2020. • At liquidation, the company owed £190,750, of which £60,428.62 was owed to the bank and included the debt for the BBL. The company bank statements do not appear to show any repayments made towards the BBL. 

This information is correct as at 15 / 11 / 2023

If you believe this page contains any errors, please email with details of the error that you have found.