Fraud BBL

Juleszoemay

Grumpy_chap said:

Juleszoemay said:

The business does not exist at companies house etc. 

Not required if operating as a sole trader.

Of course, sorry 

[Deleted User]

If you have evidence and feel strongly, then report it, if not, move on. 

MalMonroe

Juleszoemay said:

If it’s not too awkward to ask on here, who would you report a fraudulently obtained BBL to? 

The person I know of has obtained £25k against a business that doesn’t even exist, and is about to Apply for another, for another business that was also not legitimate, and closed in January. 

It’s not free money, but some lenders seem to be dishing them out with very limited information required. I appreciate you have to agree to certain things, but if you have no assets what are they going to do. 

It’s taxpayers money here and lenders are getting kick back from the government too so they don’t seem to be doing any due diligence. 

I believe this to be the funding circle in this instance but I’m sure it’s not the only one who doesn’t really care as it’s not their money. 

Thanks for any advice on whom to flag it to. 

Do you have concrete proof against this person? I know it doesn't seem like it but it really is difficult to defraud the government. Even if this person gets away with things now, he'll be caught out in the end. For all you know, he could be under official surveillance as we speak. 

Sometimes it's best just to mind your own business. It's obvious that you don't like this person but without proper proof about what he is or isn't doing, if you report him you could end up being the one in hot water, not him. 

Leave this to sort itself out, which it will. Especially if the only proof you have is speculation. As someone else has said, if it's a friend of a friend, you can't really know what is the truth and what isn't. Life's too short to fixate on this.

Jonesy1977

The BBLS and CBILS are relatively easy to gain access to, if you meet the criteria.  If the OP's friend of a friend is a sole trader this is possible (but they would be liable if they lied) and if they are a limited company they will be found out for fraud (id they lied) relatively easily and action will follow............I have no doubt for a few!  No one is just handing out cash no questions asked.

jfinnie

Jeremy535897 said:

These loans come from issuing currency. It's not your tax or mine that is being lent.

Do they?  I thought a term for banks being able to offer the loans was that they were able to support the loan book themselves.

Jeremy535897

Banks don't wait for deposits to come in before they lend. They are limited by other means.