London Taxi Driver Faces 11-Year Bankruptcy Restrictions for Falsely Claiming £100,000 Covid Loans

Hafiz Saeed Ahmad, a taxi driver from Ilford in East London, has been placed under stringent bankruptcy restrictions for 11 years after falsely claiming two Bounce Back Loans totalling £100,000 during the Covid-19 pandemic.

Hafiz Saeed Ahmad, 47, from Meath Road in Ilford, applied for separate loans for his delivery business, £50,000 for Sanwal Deliveries and Distribution in july 2020, and another £50,000 loan for his taxi company in September 2020, both based in East London.

However, an investigation revealed that he had overstated the turnover of both businesses to claim more money than allowed under the scheme, and failed to use the loan money for the economic benefit of either of his trading businesses – a breach of the scheme’s conditions.

Additionally, Ahmad failed to use the loan funds for the economic benefit of his trading businesses, violating the scheme’s conditions. The official receiver secured an 11-year Bankruptcy Restrictions Undertaking (BRU) from Ahmad, extending his original bankruptcy restrictions until 2035.

Samantha Crook, Deputy Official Receiver at the Insolvency Service, said: 

Hafiz Ahmad abused taxpayers’ money not once, but twice, taking out two separate loans based on false information, claiming more money than his businesses were entitled to receive. 

These long-lasting restrictions will help to protect people from financial wrongdoing by limiting Ahmad’s access to credit and making others aware that there are sanctions against him. 

These restrictions prohibit him from acting as a company director without court permission and borrowing more than £500 without declaring his status. They also prevent him from holding certain roles in public organizations.

The Secretary of State for Business and Trade accepted the Restrictions undertaking from Hafiz Ahmad on 20 August 2024.