Richard Oliver became the sole director and majority shareholder of Exact Data Trading Co Ltd in October 2019, less than a month after the company was established.
The Insolvency Service report into his actions found that between 11 June 2020 and 27 July 2020 Oliver had applied to at least 21 local authorities making false registrations for business rates at premises in the area, in order to receive grant payments under the government schemes put in place to support small businesses during the Covid-19 pandemic.
“As a result of these applications, grant payments were made by seven local authorities into Exact Data’s bank account when Exact Data did not occupy premises or trade in those local authority areas,” the report stated.
Oliver also provided misleading information in order to obtain a £50,000 Bounce Back Loan (BBL), when he knew or should have known the company was ineligible due to the firm “not carrying on business at 1 March 2020 nor it being engaged in trading or commercial activity at the time of the application on 27 June 2020”.
Oliver submitted the BBL application to Metro Bank electronically and stated that Exact Data Trading’s turnover was £220,000.
A £50,000 loan was credited to the firm’s bank account on 2 July 2020.
However, the Insolvency Service investigation found that during the period from 28 March 2020 to 2 July 2020 no trading income was deposited in the company’s bank account.
“The only income deposited into Exact Data’s bank account between these dates was three deposits totalling £35,000 from local authorities in respect of grants fraudulently applied for,” the Insolvency Service stated.
“There is no suggestion, and Mr Oliver has not provided any evidence, that the company was carrying on business at 1 March 2020 or that it was ever engaged in trading or commercial activity.”
Oliver has been handed a maximum 15 year ban because of his actions.
The disqualification came into force on 28 August.
Oliver's month of birth is March 1975 and his last known address is on Penrith Street in Birkenhead.
On Companies House he is listed as Richard Mathew Oliver.
Exact Data Trading went into voluntary liquidation in December 2020.
According to the Statement of Affairs the firm had £28,000 in the bank at the time, and owed creditors £62,581.
The liquidator stated that the £28,000 was used by the bank to set off against outstanding sums drawn during the pandemic.
Oliver is also listed as one of the directors of Enterprise NW Services Ltd according to Companies House. The firm's accounts are flagged as overdue.
