Lying Covid loan boss ordered not to run businesses

A construction boss who lied about having a £1 million firm to bag a £50,000 government Covid loan has been banned from running companies for 11 years.

- SALLY HIND

A probe found Jamie Rowatt - whose other company left families tens of thousands out of pocket after pulling out of the sale of several homes - had abused the Covid bounce back loan scheme aimed to help businesses through the pandemic.

The Insolvency Service said the 46-year-old, who splits his time between North Lanarkshire and Spain, claimed KR Clyde Valley's turnover was a whopping £1 million when it was actually zero.

The Coatbridge firm, which is now in liquidation, then transferred more than £40,000 in three payments - to a shareholder, Rowatt and a connected company.