Ademilson Nascimento

Introduction

Ademilson Nascimento is a South London company director who secured £46,500 in Covid-era Bounce Back Loan funds for a construction company that never traded, and who has been disqualified as a company director for the maximum period of 15 years. The Insolvency Service announced the ban on 19 May 2026, describing how Nascimento obtained the loan in July 2020 by falsely claiming his company, Buildan Construction Ltd, had a turnover of £192,000, then failed to use the money for the economic benefit of the business as the scheme required. A High Court judge described his conduct as “bluntly appalling,” “dishonest,” and “deliberate” — words the government press release put in its headline. The disqualification runs until May 2041.

Background Information

The Bounce Back Loan scheme was a pandemic-era government support programme lending up to £50,000 to small businesses, with the lender relying on the director’s self-declared turnover figure and the government guaranteeing the debt. Abuse of the scheme — inflated turnover declarations, loans taken by companies with no real trading history, money diverted from the business — became one of the Insolvency Service’s principal enforcement targets, with disqualifications and criminal prosecutions running for years after the 2020-21 lending window. Nascimento’s company, Buildan Construction Ltd (company number 11646552), was formed as a construction business. According to the Insolvency Service, it filed dormant accounts for 2019, 2020 and 2021 — the clearest possible paper trail that it never traded, in direct contradiction of the £192,000 turnover figure declared to obtain the loan. Nascimento, of Ridgemount Close, London, was 53 at the time of the ban announcement; his date of birth is recorded in the release as 9 July 1972.

The Controversy or Incident That Led to Their Cancellation

Adjudicated vs. alleged. Nascimento’s disqualification was imposed by the High Court in London after a hearing on 28 April 2026, and the judge’s findings that his conduct was “bluntly appalling,” “dishonest,” and “deliberate” are a matter of court record. The disqualification is a civil remedy; the government release records no criminal conviction in connection with the loan.

Nascimento obtained a £46,500 Bounce Back Loan in July 2020 by falsely claiming that Buildan Construction Ltd had a turnover of £192,000. The company never traded. He also failed to use the money for the economic benefit of the business, as the scheme’s terms required — the loan was obtained for a shell. The company went into liquidation in April 2023 and was dissolved in December 2025. At a hearing of the High Court in London on Tuesday 28 April 2026, Nascimento was disqualified as a company director for 15 years — the maximum period possible. His ban started on 19 May 2026, the day the Insolvency Service published its announcement, and he was also ordered to pay costs of £5,667. Simon Gillett, Chief Investigator at the Insolvency Service, said Nascimento’s “selfish actions caused real harm to the public purse and showed utter contempt for a scheme designed to support genuine businesses during the pandemic,” adding that the service “will not tolerate those who abuse their position as a company director.”

Public Reaction and Consequences

The Insolvency Service framed the case publicly as an example of maximum enforcement: the government release is titled “‘Appalling’ director banned for maximum 15 years,” quoting the judge’s description, and trade press covering Bounce Back Loan enforcement highlighted it among the longest bans issued for pandemic-loan abuse. The practical consequence is total: the disqualification prevents Nascimento from being involved in the promotion, formation or management of a company, directly or indirectly, without the permission of the court, until May 2041 — he would be 68 years old when the longest-available ban expires. The £46,500 loan itself, obtained on a false turnover declaration from a company that filed dormant accounts while the money was out, remains a debt of the dissolved company’s estate.

Current Status

Nascimento is subject to a 15-year disqualification that started 19 May 2026 and runs to May 2041, with £5,667 in costs ordered against him. The ban covers any role in the promotion, formation or management of a company in the UK without court permission. No criminal prosecution of Nascimento over the loan is reported in the announcement; the High Court disqualification is the recorded outcome. Buildan Construction Ltd is dissolved.

Impact on Their Career/Life

A 15-year ban is the corporate-equivalent of a career ending: whatever Nascimento’s working life involves after 2026, it cannot include directing, forming or managing a UK company for the better part of two decades. For the enforcement system, the case illustrates how the paper trail convicts in Bounce Back Loan cases — a £192,000 turnover declaration against three consecutive years of dormant accounts is not a close question, and the maximum ban reflects that. It also shows the state’s civil route moving years behind the fraud: the loan was taken in July 2020, the company dissolved in December 2025, and the maximum disqualification only landed in mid-2026. The government’s message, in Gillett’s words, is that the Insolvency Service treats pandemic-loan abuse as theft from the public purse — and reserves its longest bans for the clearest cases.

Sources

• The Insolvency Service / GOV.UK, “‘Appalling’ director banned for maximum 15 years after securing Covid loan for company which never traded,” 19 May 2026 — source