Shocking truth behind loan fund is exposed

Shocking truth behind loan fund is exposed

Senior States Members, civil servants and Jersey Innovation Fund board members have all come in for scathing criticism in the report by the Comptroller and Auditor General.

Full coverage in Thursday’s JEP on the findings of the report, which reveal:

-£2 million was given to six new businesses -one has gone under and three others are significantly underperforming

– Board members had financial interest in applicants

-Attorney General could be called in to investigate

-‘No more funds should be paid out until failings are addressed’.

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