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Covid Cash SEIZED at UK Border - Over Third of Govt $59bn Bounce-Back Funds Lost
Suitcases stuffed with cash and multi-billion dollar corporate fraud; the UK government’s much-trumpeted Covid relief scheme was riddled with corruption and has cost as much as $21bn, a new investigation claims.
Wednesday’s probe by the Times reveals today reveals how the $59bn Covid “bounce-back” scheme was abused by completely false turnover claims to fund gambling debts and smuggle cash out of the country.
Applicants simply filled in form declaring their company’s turnover, with most banks appearing to have made no attempt to verify the figures. In one case a business owner self-declared $250,000 turnover to qualify for a $62,000 loan despite only having $3.42 in his account.
