Case details for Karolis Jakas

Name: Karolis Jakas

Name: KKBJ Trans Ltd

Date of Birth: 1 / 2 / 1990

Date Order Starts: 9 / 1 / 2025

Disqualification Length: 9 years Years 0 Month(s)

CRO Number: 11699656

Last Known Address: 9 Cherry Walk,, , , , BOSTON,, PE21 8AS

Conduct: In May 2020, Karolis Jakas, (“Mr Jakas”) caused KKBJ Trans Ltd (“KKBJ”) to overstate the company’s turnover to obtain a £49,900 government backed Bounce Back Loan (“BBL”), when the company was not entitled a loan in that amount, by providing information to the lender which he knew or ought to have known was inaccurate or false. 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 its 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. • KKBJ was incorporated on 27 November 2018. • In May 2020, Mr Karolis applied for a BBL of £49,900 on behalf of KKBJ. The application form asked for the company’s annual turnover. The figure given in answer to this question was £293,000. • The £49,900 BBL was paid into the company bank account on 19 May 2020 • Full accounts for the period ended 31 November 2019 show that the company turnover was £29,152. • Full accounts for the period ended 31 November 2020 show that the company turnover was £19,869. • As BBLs could be between £2,000 and £50,000, based on 25% of turnover for 2019, assuming 2019’s figures as it covered most of the year, the maximum BBL KKBJ was entitled to receive was £7,288 • This means that KKBJ received a BBL which was at least £42,612 more than it was entitled to • At liquidation on 12 December 2023, £43,420 of the £49,900 BBL remained outstanding. 

This information is correct as at 20 / 12 / 2024



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