Name: Florin Auras Neagu

Name: FANEAGU LIMITED

Date of Birth: 11 / 8 / 1996

Date Order Starts: 28 / 2 / 2025

Disqualification Length: 9 years Years 0 Month(s)

CRO Number: 12391962

Last Known Address: 58 Fourth Avenue, , , , , LUTON,, LU3 3BU

Conduct: On or around 16th May 2020, Florin Auras Neagu ("Mr Neagu"), being the sole director of Faneagu Limited ("Faneagu"), knowingly submitted false information in the application by Faneagu for a Bounce Back Loan ("BBL") resulting in Faneagu receiving a BBL which was in excess of the amount that it was entitled. 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 a company was incorporated after 1 January 2019, it was eligible to use an estimated turnover from the date the business started. • Faneagu was incorporated in on 8 January 2020 and started trading on 14 February 2020 and therefore was eligible to estimate its annual turnover from the date it started trading. • The BBL application stated that the estimated annual turnover for Faneagu was £500,000 and the application was for a maximum BBL of £50,000. • Mr Neagu has produced no evidence to show that this was a reasonable estimate of Faneagu's turnover. • Faneagu's bank statements for its first fourteen weeks of trading up to the date of the BBL application show a total turnover of £9,774 which would give an annual turnover (based on 52 weeks) of some £36,303 which made the Company eligible for a maximum BBL of £9,076. • By over-stating the estimated turnover of Faneagu, Mr Neagu obtained £40,924 more in BBL funds than the Company was eligible for. • At the date of liquidation a debt of £46,939 in respect of the BBL remains outstanding. 

This information is correct as at 7 / 2 / 2025

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