Case details for Levente Istvan Ionoi

Name: Levente Istvan Ionoi

Name: LCWM LIMITED

Date of Birth: 16 / 2 / 1990

Date Order Starts: 9 / 12 / 2024

Disqualification Length: 11 years Years 0 Month(s)

CRO Number: 11961009

Last Known Address: 58 Dollis Hill Avenue,, , , , LONDON,, NW2 6QT

Conduct: On or around 16 July 2020 Mr Levente Istvan Ionoi (“Mr Ionoi”) caused LCWM Limited (“LCWM”) (formerly called Fourseasonkitchen Ltd) to apply for a Bounce Back Loan (“BBL”) of £50,000 when he knew, or ought to have known, that the company was not eligible for the loan. Mr Ionoi has also failed to provide evidence that the BBL funds were used for the economic benefit of LCWM. • Under the BBL scheme, businesses were able to apply for a BBL if they were engaged in trading or commercial activity in the UK at the date of the application, were carrying on business on 01 March 2020 and had been adversely affected by Covid. • Businesses incorporated after 01 January 2019 were asked to estimate their annual turnover. They could apply for a BBL of up to 25% of this estimate, from a minimum of £2,000 to a maximum of £50,000. The BBL scheme also required that funds were only used to provide economic benefit to the business, and not for personal purposes. • LCWM was incorporated on 24 April 2019 under the company’s original name, Fourseasonkitchen Ltd. The company name was changed to Lewis Car Rental Ltd on 28 September 2020 and then to LCWM on 23 September 2022. The company was originally incorporated to trade a coffee shop, with two third party individuals as the appointed directors. • Analysis of the company’s bank account shows that between 27 May 2019 and 31 January 2020, £82,703 was received in the company bank account (excluding bank interest/incentive payments and director’s loans). • On 31 January 2020, the coffee shop run by the company ceased to trade. • Between 01 February 2020 and 16 July 2020, the only income received into the company bank account was £112 in respect of interest, a banking incentive payment and a £12 transfer from a third-party company • Mr Ionoi purchased and was appointed as the sole director of LCWM on 08 June 2020. He stated that from this point the company began to trade a vehicle rental business. • On or around 16 July 2020, Mr Ionoi completed the BBL application on behalf of LCWM (the company was still named Fourseasonkitchen Ltd at the time of the application) and he declared the estimated company turnover as £200,000. This enabled the company to obtain the maximum BBL of £50,000. • As noted above, the coffee shop traded by LCWM had ceased to trade on 31 January 2020 and there had been no income received into the company account since 22 January 2020. Mr Ionoi has failed to provide any records to evidence LCWM was trading or engaged in commercial activity at the time of the application, and therefore the company was not eligible to apply for the loan. • The BBL was deposited into the company bank account on 17 July 2020, increasing the account balance to £50,011. • Between 20 July 2020 and 22 July 2020, £34,102 of the BBL was transferred to a third-party company, which appears to trade a vehicle auction business. • Between 21 July 2020 and 24 July 2020, £6,894 of the BBL was transferred to third party individuals. • Between 24 July 2020 and 04 August 2020, £3,270 was either transferred to Mr Ionoi or withdrawn as cash. • On 27 July 2020, £5,500 was transferred to an associated company. • Mr Ionoi has failed to provide any supporting evidence to demonstrate that the BBL was used for the economic benefit of LCWM. LCWM was wound up on 04 May 2023 and £48,774 of the BBL remains outstanding. 

This information is correct as at 10 / 12 / 2024



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