Building boss ordered to pay back £50,000 covid loan

A construction boss has become the first person hit with a compensation order secured by the Insolvency Service in court to repay a fraudulent covid loan.
Marian Ghimpu, 58, from Croydon has also been disqualified from being a director for 13 years and ordered to repay over £50,000 to the public purse.
The compensation order is the result of abuse of the Bounce Back Loan scheme by Ghimpu during the pandemic.In October 2020, he took out the maximum £50,000 available despite his compan