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Rogue Scots property dealer pocketed £100K after fraudulently using Covid business loan scheme

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dailyrecord.co.uk

A rogue property dealer pocketed £100,000 from a house sale after buying it with a government Covid loan his companies weren’t eligible for.

Brendan Gaughan has been banned as a director for 12 years and could face prosecution and a possible prison sentence over his scheme.

An investigation found he had wrongly taken out £135,000 of UK Government Bounce Back Loans (BBL), which were set up to help businesses cope with the pandemic l ockdown.

He used it to buy a property in Knightswood, Glasgow, for £160,000 and seven months later sold it for £140,000 – putting £100,000 of the proceeds into his own bank account.

Read more on dailyrecord.co.uk
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