Overview

• Mohammed Rashidzadeh, 34, was sentenced to 18 months at Leeds Crown Court after convictions under the Fraud Act and Companies Act.
• He obtained a £50,000 Bounce Back Loan for Cozy Bed Ltd in June 2020 and moved the money into his personal account within weeks.
• Two days after the loan arrived, he instructed solicitors to buy a three-bedroom house in Almondbury for £116,000, later passing the full £50,000 to them.
• Eight days after receiving the funds, he applied to strike Cozy Bed Ltd off without telling the lender; the company was dissolved in October 2020 and no repayments were made.
• The Insolvency Service condemned the conduct as “deeply cynical” and confirmed a recovery effort under the Proceeds of Crime Act is under way.