Disgraced boss used Covid loans to buy car, holidays and lingerie for his wife

Disgraced boss used Covid loans to buy car, holidays and lingerie for his wife Steven Brookes was branded as someone who 'shamelessly stole from the public purse during a national emergency' using a process set up for vulnerable businesses to use during Covid A disgraced company director bought an Audi with a personalised number plate and underwear for his wife using £300,000 in fraudulent bounce back loans, a court has heard. Steven Brookes, 40, who was banned as a company director in 2010, used his wife's name to apply for six loans without her knowledge. The dad spent the money on luxury family holidays to Disneyland and Tenerife, and £7,000 in fees to send his daughter to an independent school in Devon. Southwark crown court heard that Brookes also blew money at the florists, lingerie retailers and on paint to decorate his rental property, and according to the Insolvency Service has repaid less than £7,500 of the £300,000 he secured through the loans. The court heard that multiple transfers were also made into the joint expenses account Brookes held with his wife and he opened company bank accounts in her name to receive the funds. Brookes also inflated or fabricated the turnover figures used to support the applications and made a second loan application for the same company when he was only entitled to one. He made six Bounce Back Loan applications across five companies between May and October 2020, and in each case made the application in his wife's name without her knowledge. In each case, he made the application in his wife's name without her knowledge, having been disqualified as a company director in April 2010 following a conviction for stealing mobile phones. His first application was for a £50,000 loan for Blind Pig Media Limited. Brookes declared the company's turnover as £218,865 to obtain the maximum amount when its actual turnover was £119,215. Funds from the loan were used for personal spending, including the Disneyland trip and school fees. Just weeks later, Brookes applied for a second £50,000 loan for the same company. Businesses were only entitled to one bounce back loan each but Brookes falsely declared this was his first application. Money from this loan was spent at a florist, at lingerie retailer Boux Avenue, and transferred into the couple's joint expenses account. Brookes' third fraudulent application in September 2020 was for another £50,000 loan, this time for BPG Management Limited. In the application, Brookes declared a turnover of £450,000. The company had never traded and had no accounts. The full £50,000 was transferred to Blind Pig Media Limited, where it was used for personal spending including a £7,800 Audi bought for his wife, personalised number plates costing over £4,700. He also splashed out on £1,200 for paint to decorate his rental property and a further £1,000 transferred to the couple's joint expenses account. Later that month, Brookes secured a £50,000 loan for Brookes Consultancy Limited, declaring a turnover of £350,000. mAgain, the company had never traded and had no accounts. The full loan was transferred to Blind Pig Media Limited. Brookes made a fifth application for The Pig Box Limited, declaring a turnover of £750,000 despite the company again never having traded. The full £50,000 was transferred to Blind Pig Media Limited and used for personal spending, including £640 at luxury retailer Jo Malone and £1,000 paid to his wife's business. Brookes' final fraudulent application came in October 2020. He obtained a £50,000 loan for The Blind Pig Group Limited, this time declaring a turnover of £800,000. In a repeat of some of his previous applications, the company had never traded and the full loan amount was transferred to Blind Pig Media Limited. Money was again used for personal spending, including £5,000 paid to a Tenerife holiday rental company and £3,439 on a home energy bill. Only £7,494 has been repaid of the £300,000 Brookes stole from the scheme. Brookes, of Victoria Road, Bude, Cornwall, earlier admitted 11 charges of fraud and acting as a director while disqualified when he appeared at Southwark crown court. He was due to be sentenced but his barrister, Sam Parham, could not attend the hearing because he was defending another client. Prosecutor Nick Bonehill said the case has had an 'unhappy history' of being repeatedly delayed and adjourned since Brookes pleaded guilty. Judge Nathaniel Rudolf told Brookes, who appeared in court dressed in a navy blazer over a blue shirt: "I am going to bail you back to Cornwall, I am afraid, on the same terms. "Please don't read anything into that, other than that it is appropriate for Mr Parham to represent you." He granted Brookes conditional bail ahead of sentence on 18 June. David Snasdell, Chief Investigator at the Insolvency Service, said: "Steven Brookes shamelessly stole from the public purse during a national emergency and spent the money on holidays, school fees and luxury treats for his family. "Bounce back loans were a lifeline for small businesses struggling through the pandemic. Brookes exploited the scheme in almost every way imaginable, hiding behind his wife's identity to do so and deliberately ignoring his director ban to make matters worse. "This case shows that we will track down those who abused Covid support funds, no matter how long it takes." The Insolvency Service is seeking to recover the fraudulently obtained funds under the Proceeds of Crime Act 2002.