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A Surrey company director who fraudulently moved £100,000 in Covid-19 loans through his family’s bank accounts has avoided jail.
Muhammadh Chaudhry secured a £50,000 Bounce Back Loan for a media business in July 2020 and then fraudulently obtained another £50,000 loan for UK Media Kit Hire Ltd in September 2020, which he claimed was a film and TV production company.
The 41-year-old then transferred the funds through savings accounts held by close relatives, the Insolvency Service said.
At Guildford Crown Court on Wednesday, Chaudhry was sentenced to two years in prison, suspended for 22 months.