Oldham man disqualified after exploiting Covid Bounce Back Loan system
An Oldham businessman has been banned from running companies for a decade after he and his business partner inflated their company's turnover to pocket thousands in Covid emergency loans they weren't entitled to.
Stephen Cornwell-Dobson, 44, from Heron Street, and Sara Turner from Leeds, claimed their equipment rental firm XS Rentals had a 2019 turnover of £210,000 when applying for a Bounce Back Loan in June 2020.
Bank records and financial statements showed the true figure was just £80,119-meaning they received £28,929 more than they should have. Within weeks, Cornwell-Dobson transferred at least £15,691 of the loan to his personal account.
The Insolvency Service found the money wasn't used to benefit the business. XS Rentals later collapsed with £55,150 in debts, including the full £50,000 loan. Both directors have now been disqualified for 10 years.
The Bounce Back Loan scheme was designed to help struggling businesses survive the pandemic, with loans capped at 25% of annual turnover. Cornwell-Dobson and Turner's actions have left taxpayers footing the bill for their deception.
At a Glance
| What | Stephen Cornwell-Dobson and Sara Turner falsely claimed £210k turnover to get £50k Bounce Back Loan, when actual turnover was £80k |
|---|---|
| Who | Stephen Cornwell-Dobson (44, Heron Street, Oldham), Sara Turner (Leeds), XS Rentals Ltd |
| Where | Oldham (Heron Street), Leeds, XS Rentals business |
| When | Loan applied for June 4, 2020; disqualification announced March 2026 |
| Why it matters | Taxpayers lost £29k due to fraud; directors banned from running companies for 10 years |
| What's next | Both directors cannot be involved in company management for a decade; XS Rentals has been liquidated |
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