Case details for Morayo Akintokunbo

Name: Morayo Akintokunbo

Name: SUNBIRD LOGISTICS SOLUTIONS LIMITED

Date of Birth: 24 / 5 / 1978

Date Order Starts: 25 / 12 / 2024

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 09200928

Last Known Address: 9 Crispin Road, , , , ROCHESTER, ME2 3TW

Conduct: On 04 August 2020, Mr Morayo Akintokunbo (“Mr Akintokunbo”) caused Sunbird Logistics Solutions Limited (“Sunbird”) to overstate its turnover on a Bounce Back Loan (“BBL”) application when he knew, or ought to have known, that Sunbird was not eligible for the amount received. As a result, Sunbird received £17,371 more than it was entitled to from the BBL scheme. In addition, the BBL funds were not used for the economic benefit of Sunbird, in that: • Under the terms of the BBL scheme, eligible businesses were entitled to borrow between £2,000 and £50,000, up to a maximum of 25% of turnover in the calendar year 2019, which the applicant would self-certify when completing the BBL application. • Sunbird was incorporated and began trading in 2014. • Sunbird’s bank statements for 2019 record that trading income received amounted to £70,518 and that the last trading income received by Sunbird into its bank accounts was on 04 December 2019. The 2019 turnover would have allowed a BBL of £17,629 • On 04 August 2020, Mr Akintokunbo submitted a BBL application for £35,000, stating that the company turnover for calendar year 2019 was £140,000. • On 16 September 2020 the BBL agreement was signed by Mr Akintokunbo and on 25 September 2020, the £35,000 BBL funds were paid into a new Sunbird bank account • When applying for a BBL the applicant had to confirm that the funds would only be used to provide an economic benefit to the business and not for personal purposes. • Mr Akintokunbo did not ensure that £34,379 of BBL funds were used for the economic benefit of Sunbird. Most of that sum was used to fund building work at a property, which was not owned, or subsequently used, by Sunbird. • On 19 April 2023, Sunbird entered compulsory liquidation with liabilities of £170,464, £34,379 of which was outstanding in respect of the BBL. 

This information is correct as at 11 / 12 / 2024



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