London Hotelier Sentenced for £450,000 Loan Fraud

Richard Courtenay, 62, a hotelier from London, was sentenced to three years in prison, suspended for three years, after fraudulently securing £450,000 through nine applications under the UK Government’s COVID-19 support scheme. The applications were made between May and June 2020 for five companies: Hotel Belgravia Limited, Belgravia Rooms Limited, Lebex Limited, Directlingua Limited, and Belgravia Accommodation Ltd.

Courtenay inflated the turnover of his companies and dishonestly secured multiple loans for the same business. He attempted to conceal the funds by transferring them into personal bank accounts and other companies.

Courtenay pleaded guilty in July to nine counts of fraud and one count of money laundering. He was sentenced at Southwark Crown Court on September 3 and ordered to complete 150 hours of unpaid work and attend 10 days of rehabilitation activity.

Although he repaid the £450,000 in full, this occurred only after investigations into his criminal conduct began.