Former Institute of Directors Head Banned 11 Years for Covid Loan Misuse

Anna Daroy, a former executive with Highways England and the Institute of Directors, has been disqualified from serving as a company director for 11 years after abusing the UK government's Bounce Back Loan Scheme during the Covid-19 pandemic. In 2020, her management consultancy, Globepoint Associates Ltd, received £100,000 in loan funds when it was only entitled to £50,000, and Daroy failed to repay one of the loans after realizing the overpayment. The company went into liquidation in March 2023 with both loans still outstanding. Kevin Read, chief investigator at the Insolvency Service, emphasized that the scheme was intended to support struggling businesses, and Daroy, with her extensive leadership experience, should have known better than to break the rules. The disqualification prevents her from involvement in company management without court permission, reflecting the seriousness of her breach. Daroy was previously recognized for her business leadership, including a nomination for a 'Businesswoman of the Year' award.