London trader jailed after making up £375k turnover

A Bethnal Green director has been jailed for more than two years after faking turnover to secure no less than three bounce back loans for £130,000 and using the funds to buy and ship goods to Ghana for resale

Eric Agyeman, 46, of Bethnal Green, London, obtained £130,000 in three bounce back loans for DOK Logistics UK Ltd when businesses were only entitled to a single loan under the scheme.

Agyeman brazenly invented turnover figures of as much as £375,000 when the company never actually traded as it had only been set up in February 2020, investigators from the Insolvency Service discovered.

Agyeman first applied for a bounce back loan of £30,000 in early May 2020, on the first day the scheme opened.

In the application, he falsely claimed that DOK Logistics UK Ltd’s estimated turnover was £120,000.

Just nine days later, he applied to a different bank for another £50,000 loan, this time stating that the company’s estimated turnover was £275,000.