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Today Monday, September 7, 2026
London Hotelier Sentenced for £450k Covid Loan Fraud
financehotelowner.co.uk··1 min·For: Owner, Investor, GM

London Hotelier Sentenced for £450k Covid Loan Fraud

London hotelier Richard Courtenay received a suspended three-year prison sentence after fraudulently claiming £450,000 across nine pandemic Bounce Back Loans. Courtenay falsified business turnover and transferred the taxpayer-backed funds into personal accounts and cryptoassets before repaying the sum under investigation.

Key Takeaways

  1. 1Hotelier Richard Courtenay secured nine £50k Bounce Back Loans across five firms using fabricated turnover figures.
  2. 2Funds were diverted to personal accounts and cryptoassets, violating the one-loan-per-business limit.
  3. 3Courtenay received a suspended three-year prison term, community service, and has repaid the full £450,000.

Read original source →

Source: hotelowner.co.uk

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