Son impersonated his 81-year-old mother to steal £100k and splurged on takeaways.

The Story of Craig Gibson: Fraudulent Loans and a Life of Deception

Craig Gibson’s Fraudulent Activities

Craig Gibson, a man who claimed to be a successful property developer, found himself in deep trouble after stealing a substantial amount of money. He falsely represented himself and took out loans meant for business support during the COVID-19 pandemic. This scheme allowed him to siphon off £100,000 under false pretenses.

Taking Advantage of the Situation

Gibson utilized the COVID bounce-back loan scheme to his advantage. He applied for a £50,000 loan in the name of his 81-year-old mother without her knowledge. He claimed that his businesses were turning profits of almost £1 million, a claim that was far from the truth. In reality, one company was reported to have an annual turnover of only £825.

Spending the Stolen Money

The funds taken out were used predominantly on takeaways and other personal expenses rather than any legitimate business transactions. According to the prosecution, a significant portion of the money also went to DIY stores and service stations. This misuse of funds further demonstrated the fraudulent nature of Gibson’s actions.

Fraudulent Companies and Dirty Dealings

Three days after the initial loan, he took another £50,000 loan under a different company in which he was a director. He falsified the company’s earnings, stating it had a turnover of £985,000 in 2019; however, bank records showed that the actual earnings were nothing. This flagrant deceit highlighted the lengths Gibson went to secure these loans.

Investigation Findings

• The total amount of £32,870 was moved to Gibson’s personal account after receiving the loan.
• He withdrew £12,542 in cash shortly after the funds were deposited.
• Neither of the companies involved provided the necessary financial data to Companies House.

Consequences of His Actions

Gibson’s actions did not go unnoticed. He faced charges in Liverpool Crown Court, where details of his fraudulent behavior were laid bare. He had previous offenses as well, including a conviction for drug possession intended for supply in 2013. His history raised concerns about his judgment and responsibility.

Legal Defense

In court, defense attorney Julian Nutter argued that Gibson’s life had spiraled out of control following adverse circumstances. After losing a construction project, he struggled financially, leading him to commit these fraudulent acts. Gibson’s father passed away from COVID, which left him caring for his elderly mother while facing his own health challenges.

Sentencing and Implications

Ultimately, Craig Gibson pleaded guilty to two counts of fraud: fraud by abuse of position and fraud by false representation. The judge sentenced him to a 24-month prison term, which was suspended for two years. He was also required to attend rehabilitation activities as part of his punishment.

Judge Anil Murray expressed that had time not elapsed since the offenses, Gibson would have faced immediate imprisonment. He acknowledged Gibson’s health issues and the potential impact of imprisonment on his family. The judge emphasized that this incident should serve as a warning about the consequences of committing fraud.

This case highlights the darker side of desperation, showing how individuals can make poor choices when faced with overwhelming challenges. The repercussions are significant and serve as a reminder that integrity is vital in all aspects of life, including business.