Ex-leader of IoD prohibited due to misuse of Covid loans
In a surprising turn of events, businesswoman Anna Daroy, with a 35-year career in the public and private sectors, has been banned as a company director for 11 years. This professional ban, imposed in the year 2023, was a result of her misuse of COVID aid, specifically the Bounce Back Loan Scheme.
The Insolvency Service has stated that Daroy, who has held leadership positions at The Chartered Institution of Water and Environmental Management and British Association for Counselling and Psychotherapy, abused the Bounce Back Loan Scheme designed to provide support to struggling businesses during the pandemic, not to be exploited.
In 2020, Daroy's company, Globepoint Associates Ltd, received £100,000 in Bounce Back Loan funds, which was double the amount it was entitled to. Six months after leaving her role at the Institute of Directors, where she served as interim COO and later as interim director general from October 2018 to November 2019, Daroy secured two maximum-value £50,000 Bounce Back Loans from separate banks.
Despite realizing that her company had received double the amount of money it was allowed, Daroy did not repay one of the loans. This non-compliance has led to the 11-year ban, according to the Insolvency Service.
Notably, Globepoint Associates Ltd went into liquidation in March 2023, with both Bounce Back Loans outstanding. Daroy was shortlisted for the Women's Business Club 'Businesswoman of the Year' award last year, but this recognition has been overshadowed by the recent events.
It's important to note that a FinTech founder is preparing a class action against the UK Government, but this fact is not directly related to Anna Daroy and is not included in the bullet points to maintain focus on the main topic.
The misuse of Bounce Back Loans is a serious matter, and it underscores the importance of adhering to the rules and regulations set in place to support businesses during challenging times. This case serves as a reminder for all company directors to act responsibly and ethically when accessing government aid.
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