Overview
- Connelly applied for a second Bounce Back loan in June 2020, misrepresenting his company’s 2019 turnover to secure £37,500 after already drawing £22,000 in May.
- Investigators determined his actual 2019 turnover was just over £58,000, far below the £150,000 he claimed on his second application.
- Peter Connelly Limited entered voluntary liquidation in August 2021 with more than £170,000 in deficiencies and no repayments made on either loan.
- He admitted one count of dishonestly making false representations at a June hearing and was convicted at Durham Crown Court on July 17.
- He has been under an Individual Voluntary Arrangement since June 2022, agreeing to regular payments toward his debts under insolvency supervision.