Case details for Dan Adrian TOHANEAN

Name: Dan Adrian TOHANEAN

Name: Prime Anchor Ltd

Date of Birth: 15 / 4 / 1993

Date Order Starts: 22 / 12 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 12542811

Last Known Address: 11 Latimer Street,, , , , LEICESTER,, LE3 0QF

Conduct: In June 2020, Dan Adrian Tohanean ("Mr Tohanean") caused Prime Anchor Ltd ("PAL") to apply for a Government backed Bounce Back Loan ("BBL") totalling £50,000 for which it was not eligible by including false information relating to period of trade and the adverse impact of Covid on the business. Thereafter the BBL was paid into PAL's Bank Account on 3 June 2020 and was not used in its entirety for the economic benefit of the business. In that: Lending requirements/declarations Trading The BBL application required the Applicant to self-declare that "the "business was carrying on its business on 1 March 2020 and was engaged in trading or commercial activity in the United Kingdom as at the date if the BBL application) [ignoring any temporary cessation due to Covid-19]. PAL was incorporated on 1 April 2020 and could therefore not have been trading as at 1 March 2020. The Liquidator has confirmed that no accounting records (including any sales and purchase invoices) have been delivered up on liquidation which evidence genuine Company trading. PAL's current account bank statements also do not record any genuine trade took place at the time the BBL application was made at the beginning of June 2020. Adversely impacted by Covid The BBL application required the applicant to confirm that the business had been adversely impacted by Covid. In circumstances where a business had not been impacted by Covid then the business would not be eligible for a BBL. PAL was incorporated on 1 April 2020 (i.e. after the onset of Covid) and according to the available accounting records never commenced genuine trading activities. It therefore was not adversely impacted by Covid. Use of moneys obtained On 3 June 2020 the sum of £50,000 was paid into the Company’s bank account, being the NatWest BBL. Prior to receipt of the BBL, the account balance was overdrawn in the sum of £50.09. The BBL application required the applicant to undertake to use the BBL funds "only to provide economic benefit to my/our business, for example, providing working capital, or investing in my business. I also confirm that the Bounce Back Loan will be used wholly for business purposes and not personal purposes". PAL's bank account received credits totalling £52,220 during the period from incorporation on 1 April 2020 to liquidation on 18 October 2021. Of this sum, £50,000 relates to the BBL received from NatWest. Mr Tohanean received payments from PAL's bank account following receipt of the BBL totalling £43,785. Payments were also made to a crypto currency digital payment platform (Wirex) totalling £1,949.87 between 15 June 2020 and 17 June 2020 in respect of the purchase of Crypto investments Mr Tohanean claims were made on behalf PAL. The Company's Statement of Affairs dated 6 October 2021 signed off by Mr Tohanean do not record details of any Company assets disclosed on liquidation. Cash machine withdrawals in the total sum of £690 were also made from the account between 22 June 2020 and 23 June 2021. On this basis, Mr Tohanean has benefited personally from the receipt of the BBL funds, which have not been used in their entirety for the economic benefit of the business as the scheme required. The Statement of Affairs signed off by Mr Tohanean confirms the BBL remained outstanding in full on liquidation. 

This information is correct as at 1 / 12 / 2022

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