Dartford based taxi driver jailed for £130,000 Covid Bounce Back loan fraud
A taxi driver from Dartford has been jailed after securing fraudulent Covid relief loans worth £130,000 during the pandemic.
Nelson Clark, 34, was sentenced to two-and-a-half years in prison at Croydon Crown Court after exploiting the Government’s Bounce Back Loan scheme three times in 2020.
Clark first applied for a £30,000 loan in May 2020 under his business, N Clark Taxis, claiming an annual turnover of £120,000. Investigations later revealed this was exaggerated by around £70,000.
In July 2020, he made two further applications to different banks under the names Nelson Clark Management and Rosewood Motors. He falsely claimed both businesses had a turnover of £200,000 each, securing £50,000 for each loan.
Instead of using the funds for business recovery, Clark spent significant amounts on personal expenses, including transferring £80,000 to a third party.
Declared bankrupt in August 2021, Clark later signed a 10-year Bankruptcy Restrictions Undertaking in March 2022. This limits his ability to borrow more than £500 without disclosing his bankrupt status.
The Insolvency Service is now seeking to recover the stolen funds under the Proceeds of Crime Act 2002.
David Snasdell, Chief Investigator at the Insolvency Service, said: “Nelson Clark deliberately targeted a scheme which was set up to support genuine small businesses through Covid.
“Clark made false representations on not just one occasion, but three times within a two-month period. His actions were clearly dishonest and he made matters worse by spending the money he received for his own personal benefit.
“Five years on from the start of the pandemic, the Insolvency Service remains committed to taking action against the fraudsters who cynically applied for money they were not entitled to during a national emergency.”
