​Covid Loan Fraud Leads to Suspended Sentence for Takeaway Owner

​Covid Loan Fraud Leads to Suspended Sentence for Takeaway Owner

Posted by Emily on 2nd Mar 2024

Zaman Shaa, the former director of Shaa Ventures Ltd., which operated Chutneys Indian Takeaway in Salisbury, faced legal consequences for misappropriating a Covid relief loan. In August 2020, Shaa applied for and received a loan to support businesses during the pandemic. However, the Insolvency Service's investigation revealed that Shaa diverted these funds for personal use, including transferring the money to personal accounts, sending some overseas, and making substantial cash withdrawals.

Additionally, Shaa attempted to dissolve the business without notifying creditors, even though the company had been active in the months prior. His actions culminated in a court appearance at Winchester Crown Court on Friday, 23 February, where he received a 36-week prison sentence, suspended for 18 months. The court also imposed a two-year ban on Shaa from directing a company and ordered him to pay £6,000 in costs.

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Pete Fulham, chief investigator at the Insolvency Service, commented on the case: "Zaman Shaa exploited a scheme intended to help businesses during a national emergency for his own personal gain. His actions cannot simply be dismissed as something he did in the spur of the moment. They required a degree of planning and sophistication over a number of weeks to execute." Fulham emphasized the seriousness with which such abuses are treated, highlighting the disqualification order that prevents Shaa from managing or being involved in the formation of any company until February 2026.

Currently, Zaman Shaa has no involvement with the Chutneys Indian Takeaway.

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