Businessman accused over ‘fake bounce back loan’

A businessman accused of fraudulently applying for a £50,000 ‘bounce back loan’ during the pandemic has appeared in court. Gerald Smith, 68, is charged with fraud by false representation after he made the Covid-19 business loan application on 29 September 2020. Smith claims his firm Arcana Solutions (UK) Ltd was adversely affected by the pandemic and he needed the government money to ‘meet personal expenditure and liabilities’. Frederick Hookway, prosecuting, earlier said the allegation related ‘to an alleged fraudulent application…