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Bounce Back Loan Fraudster Caught

A Southampton based director was unable to explain fraudulent transactions totalling more than £1m in transactions and bounce back loans

Marian Daniel Clipici, the sole director of Dahlial Limited, has been disqualified as a director for seven years after failing to keep adequate accounts while his business was trading, resulting in fraudulent transactions worth more than £1m.

Dahlial Limited operated as a construction business from November 2017 according to Companies House. However, the trading address was also home to Dahlia Restaurant, a Romanian restaurant in Southampton, which recently closed.

In addition, until July 2021, Clipici was also a director of Dani-Deea Ltd, which operates a Romanian food shop in Southampton.

Dahlial ceased trading in September 2021 and went into liquidation. The liquidator identified several concerns, triggering a subsequent investigation by the Insolvency Service.

Investigators found that Marian Clipici failed to account for more than £530,000 paid into the business bank account between 2019 and the point of liquidation, including a £40,000 bounce back loan paid to the company in May 2020.

The accounts also showed a similar amount paid out over the same period, bringing the total value of transactions to over £1m, none of which could be demonstrated to have been for legitimate company payments due to a lack of accounting records and documentation.

Clipici could not prove that the bounce back loan, which were only eligible to businesses if the money was to be used to benefit the business, was either validly obtained or used to support his business during the pandemic.

The loan was paid into the company’s account in May 2020, and over the next four months, Clipici withdrew £30,000.

He claimed the payments were for subcontractors and business expenses but failed to demonstrate that these transactions were legitimate company payments.

Clipici made a claim for £12,600 when the company was liquidated, but due to his inadequate company records, the liquidator was unable to establish whether the claim was valid.

The liquidators found that the company owed £60,396, including the £40,000 bounce back loan owed to the bank and more than £7,000 to HMRC.

Lawrence Zussman, deputy head of insolvent investigation, said: ‘Maintaining adequate company accounting records is a statutory requirement for all directors, and is vital to ensure company transactions are legitimate.

‘Marian Daniel Clipici has justifiably been removed from the business environment for a period of seven years and his disqualification should serve as a warning to other directors that if you do not take your responsibilities as a director seriously, you run the risk of being disqualified.’

The secretary of state for business accepted a disqualification undertaking from Clipici after he did not dispute he had failed to ensure that Dahlial Limited had kept adequate books and accounting records.

His disqualification is effective for seven years and began on 20 September 2022. It will prevent Clipici from directly, or indirectly, becoming involved in the promotion or formation of a company without the court’s permission.


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