MR Richard Mathew OLIVER

Disqualified from

2024-08-28

Date of birth on record

March 1975

1. Richard Mathew Oliver (“Mr Oliver”) caused Exact Data Trading Co. Ltd (“Exact Data”) to submit false applications to Local Authorities for Small Business Relief Grants, resulting in £95,000 being paid into the company bank account, which the company was not entitled to, in that; • On 11 March 2020 the Government announced the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund as a result of the Corona Virus Pandemic, aimed at supporting small businesses struggling to survive due to the Corona Virus shutdown. • Between 11 June 2020 and 27 July 2020 Exact Data applied to at least 21 local authorities to be falsely registered for business rates at premises in order to receive grant payments, when it did not occupy or trade at those premises. • As a result of these applications, grant payments were made by 7 local authorities into Exact Data’s bank account when Exact Data did not occupy premises or trade in those local authority areas. 1. Mr Oliver” caused Exact Data Trading Co. Ltd to provide misleading information to a bank, to obtain a Bounce Back Loan (“BBL”) of £50,000 when he knew or ought to have known that “Exact Data” was not eligible for a BBL due to it 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 . In that: 1) Exact data was incorporated on 21 September 2019, Mr Oliver was appointed 17 October 2019 and its bank account opened on 28 March 2020. 2) On 4 May 2020 HM Treasury launched Bounce Back Loans (BBLs) to enable small businesses to apply for and receive 100% government backed loans of between £2,000 and £50,000 via an online application process. BBLs were limited to 25% of 2019 ‘calendar year’ turnover. One of the criteria was that the applicant company was established and actively trading at 1 March 2020 3) On 27 June 2020 a BBL application for £50,000 was submitted electronically to Metro Bank and the stated turnover of the company was £220,000. On 2 July 2020, a £50,000 BBL was credited to Exact Data’s bank account resulting in a balance of £50,479.56. 4) In the period from 28 March 2020 to 2 July 2020 no trading income was deposited into the bank account. The only income deposited into Exact Data’s bank account between these dates was 3 deposits totalling £35,000 from Local Authorities in respect of Grants fraudulently applied for. 5) 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