Case details for MARIAM KHAN



Date of Birth: 21 / 12 / 1995

Date Order Starts: 20 / 4 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 12517035

Last Known Address: 32b Belgrave Road, , , , Essex, IG1 3AW

Conduct: Mrs Mariam Khan (‘Mrs Khan’) caused Wilma Advisors Ltd (‘WAL’) to falsely obtain 2 Government-backed bounce back loans (‘BBL’) with two different lenders totalling £75,000 for which it was not eligible as it was not trading on 01 March 2020 and she knowingly applied for the second BBL when only one BBL was permissible per business, should a business be eligible. The obtaining of the BBLs was contrary to the conditions of the scheme. Further it was a requirement of the BBL scheme that loans were used for the economic benefit of a company, Ms Khan has failed to provide evidence that BBL funds of £75,000 were used for the economic benefit of WAL. In that: A requirement of the BBL scheme was that a business was trading on 01 March 2020. WAL was not incorporated until 13 March 2020; Mrs Khan signed an agreement for a BBL with WAL’s bank (“Bank A”) for £40,000 on 13 May 2020; The BBL of £40,000 was paid into WAL’s ‘Bank A’ account on 15 May 2020; Only one BBL was permitted under the scheme, if a company was eligible, but Mrs Khan signed a second agreement on 20 May 2020, with a different bank (“Bank B”), for a BBL of £35,000; The BBL proceeds of £35,000 were paid into WAL’s ‘Bank B’ account on 20 May 2020; WAL’s bank statements show BBL moneys were disbursed in payments, mainly to a 3rd party company, by 22 June 2020; On 26 May 2021 WAL went into creditors voluntary liquidation with total outstanding balance of £75,000 in respect of the BBLs. From 13 March 2020, the date of incorporation, to 26 May 2021, the date of liquidation, Mrs Khan has failed to ensure that WAL maintained and/or preserved adequate accounting records, or in the alternative, has failed to deliver up such records as were maintained to the Liquidator. The records Mrs Khan has delivered up to the Liquidator, comprising bank statements and a single invoice, do not adequately explain WAL’s transactions and it is not possible to: Determine whether the proceeds of 2 BBBLs totalling £75,000 received on 15 & 20 May 2020 were used to the economic benefit of WAL as it is not possible to verify Mrs Khan’s account that the BBLs were obtained to equip an office. The only information provided in support of the payments made from the BBLs was a single invoice for £70,719 from the 3rd party company which is now dissolved. The quantity of electronic items on the invoice is inconsistent with WAL’s stated business and it has not been possible to verify Mrs Khan’s explanation for the loss of the goods purportedly purchased; Determine the actual or ultimate recipients of the BBL moneys totalling £75,000; Explain receipts totalling £41,205 (excluding the BBLs) into WAL’s two bank accounts; Adequately explain payments from WAL’s bank accounts totalling £113,978 (including BBL monies); Verify Mrs Khan’s explanations to the liquidator as regards the records and company transactions; Ascertain WAL’s actual business from the available records. 

This information is correct as at 31 / 3 / 2022

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