The former Director General of the Institute of Directors has been disqualified as a company director for 11 years after abusing the government’s Covid Bounce Back Loan scheme. Investigators found Daroy failed to repay one of the loans even after realising the company had received double the amount allowed. As someone with such extensive senior business leadership experience, Daroy should have known better.”The Secretary of State for Business and Trade accepted a disqualification undertaking from Daroy earlier this month. The Bounce Back Loan Scheme was launched in 2020 to provide small and medium-sized businesses with quick access to emergency funds of up to £50,000 to help them survive the pandemic. It has since been dogged by criticism over widespread misuse and abuse, with billions written off by the government as unrecoverable.