CPS secures conviction in £95,000 Covid loan fraud case
The Crown Prosecution Service (CPS) has announced that Craig Gibson, a 45-year-old entrepreneur, was sentenced on 3 March 2025 to two years' imprisonment suspended for two years at Liverpool Crown Court after being convicted of fraudulently obtaining over £95,000 through two COVID-19 Bounce Back Loans. Gibson submitted two fraudulent loan applications, one using his mother’s name and business without her knowledge to obtain £50,000, and another using his own company, Gibson Bowers Ltd, to obtain £45,412. The funds from both loans were used for his personal expenses rather than legitimate business purposes. An investigation revealed that Gibson’s company was not trading between 2019—2021, and he had exaggerated its turnover to secure the maximum loan amount. He pleaded guilty to fraud by false representation and fraud by abuse of position of trust. The CPS has initiated confiscation proceedings to prevent Gibson from benefiting financially from his crimes.