A former boss of one of Britain’s oldest business groups has been banned from being a director for 11 years after abusing a state-backed emergency loan scheme during the pandemic.
The Insolvency Service has barred Anna Daroy, 61, director general of the Institute of Directors in 2018-19, after she secured two ‘bounce-back’ £50,000 loans for consultants Globepoint Associates, which went into liquidation in 2023, when firms were only entitled to one.
Banks handed out tens of billions of pounds of state-backed funds to support companies hit by pandemic lockdowns.
But a lack of stringent eligibility checks and oversight attracted widespread scams – and a wave of criticism.
Daroy, who was shortlisted for the Women’s Business Club ‘Businesswoman of the Year’ award last year after a 35-year career advising boards and executive teams, should have at least repaid one of the loans that were secured from separate banks over a five-day period, the Insolvency Service said.
The Insolvency Service has disqualified more than 2,400 company directors for abusing COVID financial support schemes.
Ban: The Insolvency Service has barred former director general of the Institute of Directors Anna Daroy after she secured two £50,000 ‘Bounce Back’ loans
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