LONDON, Feb. 27 -- The government of the United Kingdom issued the following news:
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Adebanjo Adebayo Talabiwas the director of Bebo Construction Limited.
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He pleaded guilty to three counts of fraud by falserepresentation for claiming£150,000inCovidBounce BackLoans.
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He received atwo-yearsentence, suspended for two years, an unpaid work order, and a six-year director disqualification.
The south-London director of a construction company has narrowly avoided jail after admitting exaggerating his company's turnover to claim £150,000viathreeCovid Bounce BackLoans.
Adebanjo Adebayo Talabi,fromAlvey Street,Walworth,was the director of Bebo Construction Limited.
An Insolvency Service investigation found the 42-year-old applied for three loans,between August and November 2020, from three separate banks.
On each occasion, the company's turnover had been exaggeratedsignificantlyto claim themaximumamount available(£50,000), withevidence thatthemoney wastransferred to apersonal account.
The company would have been entitled to one loanof approximately £1,300.
Talabi pleaded guilty to three counts of fraud by false representation and was sentenced at Southwark Crown Court on 24February 2026.
He received atwo-yearsentence, suspended for two years on condition of completing 200 hours unpaid work, anddisqualified from being a director for six years.
Duringsentencing, it was noted that MrTalabi hasbegun to repay the money owed and, as such, the Insolvency Service will not be pursuing action under the Proceeds of Crime Act.
Insolvency Service Chief Investigator DavidSnasdellsaid:
This is significant sentence which imposesa number oflong-term restrictions onAdebanjo AdebayoTalabi,whiletaking into accounthis guilty plea and efforts topay back the money his company owes.
TheInsolvency Servicewill continueto pursue those who exploited theCovid Bounce Back Loanscheme, aimed at supporting struggling businesses through the pandemic.
Adebanjo Adebayo Talabi successfully applied for three Bounce Back Loans for Bebo Construction Limited - each worth£50,000- on 1 August, 20Augustand 5 November 2020.
On each occasion hestatedthat the company's turnover was between £200,000 and £220,000 - which was found to be significantlyinflated.
For the second and third loan, Talabi falselystatedthat they were the first and only loan applications for the company.
Additionally, evidence from the Insolvency Service investigation found the loans had been transferred to personal accounts and not used for the economic benefit of the company, which was a requirement of the scheme.
Further information
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Adebanjo Adebayo Talabi. Address:Alvey Street,Walworth,London. Date of Birth: 14 October 1983.
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Bebo Construction Limited(company number12014923).
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Individuals subject to a disqualification order or undertaking are bound by arange of restrictions.
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Directors can find information about their obligations and responsibilities at the Insolvency Service's Director Information Hub
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Further information about the work of the Insolvency Service, and how to complain about financial misconduct.
Disclaimer: Curated by HT Syndication.
