Half of UK company directors struck off linked to alleged Covid loan fraud

Official figures show in a 15-month period at least 50% of disqualified bosses are accused of fraud or abuse of coronavirus support schemes

More than half of all company directors struck off in Britain in the past 15 months were involved in alleged fraud or abuse of Covid-19 financial support schemes, official figures have revealed.

There were 1,200 directors disqualified between 1 April last year and 30 June this year, with 611 of the cases involving abuse of Covid-19 schemes, mainly in relation to taxpayer-backed bounce-back loans. About 1.1bn of loans have already been flagged as suspected fraud or error.