In a stunning revelation, our team of investigators has uncovered a web of financial deceit surrounding Sepehr Heidarian, leaving us astounded at the depths to which he has sunk. Sepehr’s involvement in Bounce Back loan fraud has come to light, and the ramifications of his actions are alarming.
Sepehr, alongside his sister Setareh Heidarian, established PANADIUM ENGINEERING LTD (Company number 10974039) in 2017, a seemingly legitimate haulage company based in Sheffield. For years, the company operated under their directorship, its activities seemingly above board. However, recent discoveries have shattered this facade.
In June 2020, Sepehr took advantage of the government’s Bounce Back Loan scheme, ostensibly designed to assist struggling businesses during the pandemic. Sepehr, acting on behalf of PANADIUM ENGINEERING LTD, cunningly applied for multiple £50,000 loans from three separate business banks. Shockingly, all three institutions approved his applications, granting him a grand total of £150,000.
These substantial loans were meant to support genuine businesses impacted by the pandemic, but Sepehr had other plans. Instead of using the funds for their intended purpose, he siphoned the entire amount into his personal bank account, away from the prying eyes of his own sister and co-director. To add insult to injury, Sepehr even duped his sister, convincing her to invest £25,000, which she had earmarked as her savings for a flat deposit.
Attempting to cover his tracks, Sepehr filed paperwork with Companies House, applying for the dissolution of PANADIUM ENGINEERING LTD. This manoeuvre allowed him to effectively transfer the funds into his personal account while avoiding any accountability or scrutiny. Astonishingly, Sepehr disregarded the legal requirement to notify interested parties and creditors, an act that is deemed a criminal offense.
By December 2020, the company had been dissolved, leaving a trail of suspicion in its wake. The Insolvency Service and cross-government counter-fraud systems swiftly identified PANADIUM ENGINEERING LTD as a likely case of Bounce Back Loan fraud. Our private investigators have since uncovered the elaborate scheme that Sepehr meticulously orchestrated.
Inflating the company’s turnover in the loan application, Sepehr succeeded in securing the substantial funds. Within days of receiving the money, he discreetly transferred it to his personal account, subsequently dispersing the ill-gotten gains to his own son and another company. This audacious move demonstrated Sepehr’s utter lack of remorse or concern for the consequences of his actions.
Today, we stand united in our determination to expose Sepehr Heidarian’s crimes, particularly his unabashed willingness to deceive friends and even his own family members, including his sister. Although he may deny these allegations to her face, we have amassed solid evidence revealing the true extent of his deception and the whereabouts of the misappropriated funds.
In the interest of justice and transparency, we will publish these irrefutable findings on our website, ensuring that Sepehr Heidarian’s duplicitous actions are brought to light. Stay tuned as we unveil the truth behind this shocking Bounce Back Loan fraud.