A woman has been convicted of fraud after inventing a fake business to claim a £50,000 Covid Bounce Back Loan, which she then transferred to bank accounts in Poland.
Jagoda Rubaszko, 37, from Northolt, claimed she ran an administrative services business with an annual turnover of £210,000. In reality, she had no business operations at all. Despite this, she successfully applied for the government-backed loan in April 2021.
An investigation by the Insolvency Service revealed that Rubaszko received the funds just two days after applying. She then made 22 separate transfers—totalling £50,000—to five individual bank accounts in Poland over a two-month period.
During the investigation, Rubaszko claimed she had been guided by a man named "Daniel," who allegedly advised her on how to submit the false application and to declare bankruptcy to avoid repayment. However, she could provide no evidence that Daniel existed. Despite claiming to have paid him a £17,500 commission, no such transaction appeared in her bank records.
On 5 June 2025, Rubaszko was sentenced at Isleworth Crown Court to 18 months in prison, suspended for 21 months. She was also ordered to wear an electronic tag and remain under a nightly curfew from 7:30 p.m. to 6:00 a.m. for six months. Additionally, she must complete 175 hours of unpaid work.
She had previously declared bankruptcy in May 2023 and is now subject to a 10-year Bankruptcy Restrictions Undertaking, which bans her from managing a limited company until 2033.
Mark Stephens, Chief Investigator at the Insolvency Service, said:
"Rubaszko posed as a legitimate business owner with a turnover of £210,000, despite her financial records showing no such activity. She invented a fictional advisor to deflect blame, but the truth is she abused a scheme meant to support real businesses through a crisis. Now, she must face the consequences."
The Insolvency Service has confirmed it is pursuing recovery of the stolen funds under the Proceeds of Crime Act 2002. Photo: L(Phot) Alex Knott/MOD, Wikimedia commons.
