Name: Lucian Cornel Tunaru

Name: Tunluk Ltd

Date of Birth: 16 / 7 / 1988

Date Order Starts: 8 / 4 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11033635

Last Known Address: APARTMENT 50, LANGLEY WALK, , , BIRMINGHAM, B15 2EN

Conduct: Mr Lucian Cornel Tunaru also known as Cornel Lucian Tunaru (“Mr Tunaru”) caused Tunluk Ltd (“Tunluk”) to obtain 2 Bounce Back Loans (‘BBL’) totalling £100,000 contrary to the BBL scheme’s conditions and to which it was not entitled, by knowingly providing false and inaccurate information regarding the Company’s turnover. In addition, Mr Tunaru did not use the BBL1 funds obtained for the economic benefit of the Tunluk, in that: • In accordance with BBL scheme rules, a business was entitled to apply for one BBL of up to 25% of its 2019 turnover up to a maximum of £50,000. • Tunluk was incorporated on 26 October 2017 and commenced trading on 01 November 2017. • Financial Statements for the period ended 31 October 2019, approved by Mr Tunaru on 22 June 2020, show that Tunluk had a turnover of £45,261. • Bank analysis shows that Tunluk had a turnover of £45,591.67 in the calendar year 2019. On this basis Tunluk was entitled to one BBL of no more than £11,397.92. • On 09 June 2020, Mr Tunaru applied for a BBL with Bank A (BBL1) in the sum of £50,000. On the application form, Mr Tunaru stated that Tunluk had a turnover of £250,000. • On 16 June 2020, Mr Tunaru acted in contravention of the BBL Scheme by applying for and obtaining a second BBL with Bank B (BBL2) in the sum of £50,000. On the application form, Mr Tunaru stated that Tunluk had a turnover of £200,000. Mr Tunaru also declared “I/we confirm that this is my/our only application for a Bounce Back Loan for this business, and I am/we are not part of a wider group which is in the process of applying for or has already received for a Bounce Back Loan.” • BBL agreements stipulate that the funds are to be used solely for the economic benefit of the business, and not to be used for any personal or non-business purpose. • BBL 1 was paid into Tunluk’s account on 25 June 2020 and was the first transaction into this bank account. • Between 25 June 2020 and 18 December 2020, no trading income was received in this account, • In the same period, Tunluk made payments from its bank account totalling £21,600 that were not made for the economic benefit of Tunluk. • No records have been provided to evidence that the payments were for the economic benefit of Tunluk. • Tunluk entered Creditors’ Voluntary Liquidation on 18 May 2022 • Both banks are creditors in the liquidation and have claimed a total of £100,437 for the outstanding BBLs. 

This information is correct as at 19 / 3 / 2024

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