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The Story

Investigation: What happened to all the Covid loan money?

The Story

The Times

Daily News Podcast, Exclusive Interviews, Daily News, Current Affairs, Global News, News, Investigative Reporting, Long-form Audio, In-depth Journalism, Audio Storytelling, News Analysis, Politics, Uk News

3.91.6K Ratings

🗓️ 10 May 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

From people nabbed fleeing the country with suitcases full of bank notes to a former pub landlord accused of cashing his loan and sending it to the terrorist group ISIS, case after case is emerging of how money from the government's pandemic bounce back loan scheme may have been misused. So what went wrong? And is the government doing enough to fix it?

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Guests:

  • George Greenwood, Investigations Reporter, The Times.
  • James Hurley, Enterprise Editor, The Times.

Host: David Aaronovitch.

Clips: CNBC, BBC News, NBC, ITV News, Channel 5 News, ITV, Sky News, DW News, WION, The Guardian, HM Treasury.

This podcast was brought to you thanks to subscribers of The Times and The Sunday Times. To enjoy unlimited digital access to all our journalism subscribe here.


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Transcript

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0:00.0

Imagine you, you in a nice comfy seat with your hands behind your head,

0:07.6

taking in the views, instead of taking on the road, maybe even taking a nap.

0:13.6

That's the bliss of getting where you need to go without worrying about driving.

0:19.2

Book your train journey by at avantewescoast.co.uk and we'll take you there.

0:24.4

Avantewescoast, feel good travel.

0:36.4

So imagine the situation. You were a Border Force official in May, June last year.

0:40.5

There are very few people going abroad still. Someone comes up to your security station.

0:44.1

They put a suitcase through the scanner, but you see something on the machine that looks very odd.

0:49.2

And you open it up and suddenly you find large wads of cash inside.

0:54.3

And we begin here in the United Kingdom and reports that Border officials

0:58.8

detained people carrying suitcases of cash from the government's COVID loan scheme.

1:04.4

That's according to a new investigation by the Times newspaper.

1:11.8

There were very few checks in the bank so they would then go off and get 50 grand in their

1:16.0

account from a bank within 24 or 48 hours. They then try and take that money out and cash

1:21.9

from various cash registries, put that all in their suitcase and then attempt to leave the country.

1:29.6

From people napped fleeing the country with suitcases full of bank notes,

1:34.4

to a former public landlord accused of caching his loan and sending it to the terrorist group

1:39.7

ISIS, case after case is emerging of how COVID money may have been misused.

1:47.0

A whole lot of cash was given out in a hurry. Most of it went to help out legitimate businesses

1:53.8

whether the pandemic, but not all. And now questions are being raised about where it all went.

2:03.7

So what went wrong and is the government doing enough to fix it?

2:08.8

You're listening to stories of our times at the Times and the Sunday Times.

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