A failed Accrington businessman has been banned from being a director of any company for a period of 10 years after fraudulently claiming £50,000 in bounce back loans when he was not entitled to.

Shamim Ahmed Miah claimed the loan for his company, Crowd Enterprises Ltd, after stating that the company’s turnover was £250,000 when in fact it had been zero.

On May 7 2020, Miah, 43, applied for a bounce back loan of £50,000. Under the bounce back loan scheme, which was designed to enable businesses to access finance more quickly during the coronavirus outbreak, businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of 25 percent of the company’s turnover.

Miah, whose last known address was Blackburn Road, Accrington, self-certified Crowd Enterprises Ltd’s turnover for the year 2019, stating the firm, which was incorporated on October 19 2015, had made £250,000.

A copy of the accounts for the year 2019 stated that the company’s turnover was in fact, nil.

However, Crowd Enterprises Limited received the funds of £50,000 on May 11 2020.

Miah later resigned as company director on October 18 2020 and the full bounce back loan amount remained outstanding.

A notice on from the Insolvency Service reads: “On May 7 2020 Shamin Ahmed Miah caused Crowd Enterprises Limited to make a Bounce Back Loan (BBL) application of £50,000 when he knew or ought to have known that Crowd Enterprises Limited was not entitled to access the scheme.

“As a result Crowd Enterprises Limited has received BBL funds of £50,000 that it was not entitled to.

“Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25 per cent of turnover. The turnover figure was self-certified by the applicant.

“The turnover figure required was that for the calendar year 2019 or where a business was established after January 1 2019 it is their estimated turnover.

“Crowd Enterprises Limited was incorporated on October 19 2015.

“On May 7 2020, Shamim Ahmed Miah applied for a BBL of £50,000 on behalf of Crowd Enterprises Limited declaring that its turnover for the calendar year 2019 was £250,000.

“A copy of full accounts for year to October 31 2019 obtained from company accountants state the company turnover as NIL.

“A copy of the BBL application form and loan agreement confirmed the turnover stated for the calendar year 2019 as £250,000 and the amount of loan applied for as £50,000.

“Crowd Enterprises Limited received the BBL funds of £50,000 on May 11 2020.

“Shamin Ahmed Miah resigned as company director on October 18 2020, at the time of his resignation, the full BBL remained outstanding.”

As a result, Miah has been disqualified as a director for 10 years, beginning from October 23.

He will be 53 by the time he is allowed to sit as a director of any company again.