Glasgow civil engineer banned for £100k Bounce Back Loan abuse

Aaron Morby 3 years ago
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A Glasgow-based civil engineer has been disqualified as a director for 11 years after claiming two separate Bounce Back Loans totalling £100,000, and then using the money for personal benefit.

John Gerard McGarvey, 37, from Rutherglen, was the sole director of CKO Civil Engineering and Surveying, which was incorporated in October 2019 and ran as a surveyor’s firm based in Kirkinitlloch in Scotland until it went into liquidation in November 2021.

Investigators discovered that McGarvey had applied for two loans – which was against the rules of the scheme – and had exaggerated CKO’s turnover both times to obtain maximum loans. The company’s most recent accounts showed a turnover of only around £46,400.

Steven McGinty, Investigation Manager, said: “Not only did John McGarvey grossly exaggerate the company’s turnover to secure an initial loan, he also applied to a second bank for another loan his company wasn’t entitled to. To compound his actions, he used the money for his personal gain.

“His 11-year ban should serve as a warning that if you abuse government support, we will use our full powers to bring you to account.”

 

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