A former director general of the Institute of Directors has been disqualified as a company director for Covid loan abuse, the Insolvency Service announced.
Anna Daroy served as interim chief operating officer and later as interim director general of the Institute of Directors for a year from October 2018.
In a report on Thursday, the Insolvency Service said that six months after leaving her role at the IoD, she secured two maximum-value £50,000 Bounce Back Loans from separate banks for management consultancy Globepoint Associates Ltd.
She received the £100,000 in loan funds within a five-day period in May 2020.
Globepoint Associates Ltd went into liquidation in March 2023, with both Bounce Back Loans outstanding, said the Insolvency Service.
Kevin Read, chief investigator at the Insolvency Service, said: “Anna Daroy abused the Bounce Back Loan Scheme by obtaining two loans when businesses were entitled to just one.
“When Daroy realised that her company had received double the amount of money it was allowed, she should have repaid one of the loans.
“Bounce Back Loans were designed to provide vital support to struggling businesses during the pandemic, not to be exploited by those who did not follow the terms of the scheme.
“As someone with such extensive experience in senior business leadership roles, Daroy should have known better than to break the rules.
“Director disqualifications protect the public from people who have demonstrated unfit conduct, and we will continue to investigate and take action against those who breach their duties.”
The Insolvency Service added that the Business Secretary had accepted a disqualification undertaking from Ms Daroy, and her ban started on Wednesday, preventing her from being involved in the promotion, formation or management of a company, without the permission of the court.
