Scottish directors banned for £125k bounce back fraud

Two directors have been banned for a total of 21 years after falsely claiming over £125,000 in bounce back loans

Shahzad Arshad and Alexander Stewart Cooper, from Glasgow, have been disqualified as company directors following separate investigations which found they had both made false claims in order to receive bounce back loans for their businesses.

Arshad was the director of two companies, Town Discount and Naz Accessories, which were both based in Glasgow.

Town Discount was incorporated in January 2020 and began trading a month later as a retailer of games, toys, clothes, watches and jewellery, until it went into liquidation in December 2021.

Naz Accessories was incorporated in December 2017 and traded as a clothes retailer until it was liquidated in January 2022.

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