Indian-origin printing firm boss convicted of COVID loan fraud in UK

LONDON: (Jan 30) An Indian-origin boss of a London printing firm has been convicted of illegally obtaining a second loan for his company, when businesses were only entitled to one under the UK government’s COVID-19 Bounce Back Loan scheme.

Prashant Jobanputra, 41, was sentenced to 18 months in prison, suspended for 18 months, at the Old Bailey court in London on Tuesday, the UK’s Insolvency Service said in a statement.

He was also disqualified as a company director for three years and fined 5,000 pounds.