Former pub landlord ‘sent Covid loan cash to Syria to fund Isis’
GOVERNMENT Covid business loans were used to fund Islamic State terrorists in Syria, the Old Bailey has heard.
A former pub landlord has appeared in court accused of sending thousands of pounds from taxpayerfunded Bounce Back loans to the Islamist group.
Tarek Namouz, 42, of no fixed address, faces eight charges of entering into a terror funding arrangement between November 2020 and May 2021.
He is also accused of two counts of possessing terrorist information relating to videos. Namouz, who faces trial later this year, appeared via video link from Wandsworth jail in London wearing a tan crew neck jumper. He spoke only to confirm his name and date of birth.
Prosecutor Jonathan Polnay told the Old Bailey: ‘The Crown says [Namouz] sent the proceeds of coronavirus Bounce Back funding loans to Isis.’
Tyrone Smith QC, for Namouz, said his client planned to contest the matter. Namouz was remanded in custody ahead of a plea and trial preparation hearing at Kingston Crown Court, south-west London, on July 22.
Judge Mr Justice Nigel Sweeney said this is clearly ‘a serious case’. He confirmed Namouz will stand trial from November 21.
Chancellor Rishi Sunak introduced the Bounce Back loan scheme in May 2020 to help businesses struggling in the pandemic. But the Treasury has been challenged over claims that few due diligence checks were carried out on borrowers by the banks involved in the scheme.
The Government estimates as much as £17billion of the £47billion borrowed under the scheme will never be paid back, and £4.9billion was claimed fraudulently.
Reports of misuse include criminals trying to smuggle suitcases full of cash from the loans out of the UK.
There are also claims the money was used in gambling sprees, and to pay for luxury lifestyles and home improvements.
The British Business Bank, which oversaw the scheme, is spending more taxpayer money trying to block the release of a list of firms that received the loans.