An investigator said Temidola Ojelabi showed a 'complete disregard for taxpayer money'

Temidola Ojelabi was jailed for more than two years earlier this week (Image: Derbyshire Constabulary)

A Derby man has been jailed after using £80,000 in Covid loans to fund online stock trading.

Temidola Ojelabi secured the money across two Bounce Back Loan applications for his company, Platinum Gates Limited, in 2020 when businesses were only entitled to a single loan.

Money from the loans was then used on online trading platforms when it should have been spent on supporting his business.

The 43-year-old, of Glossop Street, Derby, was sentenced to two years and four months in prison at Derby Crown Court on Wednesday (December 10).

He was also disqualified as a company director for eight years.

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