Name: Elias Pason

Name: Pasons Ltd

Date of Birth: 10 / 11 / 1983

Date Order Starts: 10 / 4 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11481845

Last Known Address: Flat 4, Carlton Court, , , , LEICESTER, LE2 2PN

Conduct: On 24 June 2020 Elias Pason (“Mr Pason”) caused Pasons Ltd (“Pasons”) to make a Bounce Back Loan (“BBL”) application of £50,000. Mr Pason made a wrongful declaration by overstating turnover, as a result Pasons received BBL funds of £50,000 that it was not entitled to and failed to use all the funds for the economic benefit of the company, in breach of the BBL terms and conditions. In that: Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover.?? ? Pasons was incorporated on 25 July 2018 and commenced trading that month.? ? On 24 June 2020, Mr Pason applied for a BBL of £50,000 on behalf of Pasons declaring that its turnover for the calendar year 2019 was £215,000. ? ? Bank statements received, show total deposits into the account between 01 January 2019 and 31 December 2019 as £21,518, therefore, Mr Pason knew or ought to have known that stating a turnover of £215,000 was a wrongful declaration. There were no other deposits into the company account. ?? Pasons received the BBL funds of £50,000 into the company account on 25 June 2020.?? On 17 July 2020, two payments were made from Pason’s bank account of £5,000 and £12,000 respectively to a third party, which were not for the economic benefit of Pason On 04 November 2020 £5,250 was withdrawn from the account, which was not for the economic benefit of Pason On 20 April?2021, 21 April 2021 and 23 April 2021 payments of £5,000, £13,750 and £7,150 respectively were made to a vehicle hire company, which were not for the economic benefit of Pason. ? Total liabilities at liquidation amount to £50,995 of which £50,786 relates to the amount owed in respect of the BBL.? 

This information is correct as at 21 / 3 / 2024

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