High Court orders €105m repayment in explosive PPE loan fraud case

London’s Commercial Court strikes fraudsters with €105m order over unpaid PPE loans.

A London court has delivered a devastating blow to two defendants at the centre of a PPE loan fraud, ordering them to repay more than €105 million (£90.55 million) after years of legal battles.

The judgment, handed down at the Commercial Court, marks a decisive victory for law firm RWK Goodman, which represented the claimant in an effort to claw back millions lost through fraudulent loans.

Between 2020 and 2021, Yasmin Al Sahoud Perez and Karim Ouajjou obtained €25 million through nine separate loans. The money was intended to fund contracts supplying personal protective equipment (PPE) to the Spanish Government at the height of the pandemic. Instead, the funds went largely unpaid, with only the first loan and part of the ninth ever being repaid.

Alarmed by the mounting losses, the court granted Worldwide Freezing Orders in March 2022 to prevent the defendants from moving assets beyond reach. Yet the case quickly escalated when both Al Sahoud Perez and Ouajjou breached those orders. In 2024, they admitted contempt of court and were sentenced to nine months in custody each, alongside an order to pay legal costs.

Their refusal to meet those costs prompted further sanctions. Judges warned that unless payments were made, their legal defence would be struck out. An appeal to extend the repayment deadline was dismissed in May 2025, with Mr Justice Robin Knowles confirming that the defendants’ defence would be removed. Permission to appeal was also denied, leaving the pair without recourse.

In this week’s pivotal ruling, the High Court not only ordered repayment of the original €25 million but also included accrued interest over four years of protracted litigation. In total, the sum now exceeds €105 million. The court also reissued post-judgment Worldwide Freezing Orders, tightening restrictions to ensure assets remain available for recovery.

Dan Dodman, partner and head of RWK Goodman’s Dispute Resolution practice, praised the judgment as a critical warning. “This result is a key example of the absolute importance of complying with court orders and the consequences which follow non-compliance,” he said. He described the case as “a long, hard-fought battle over three and a half years” and credited the outcome to the firm’s persistence and expertise in civil fraud litigation.

The RWK Goodman legal team was spearheaded by Dodman and included Ellie Spencer, Natalie May-Beshir, Cydney-Jane Ault, and Tom Nugent. The claimant’s case was also supported by 4 Pump Court, with barrister Stephen Cogley KC acting as lead counsel in the High Court.

The ruling underscores the severity with which English courts treat fraud, particularly where public trust and pandemic-related contracts are involved. At the heart of the case was not only the loss of tens of millions but also a blatant disregard for judicial authority. The defendants’ repeated breaches of court orders left judges with little choice but to impose the harshest financial and legal penalties.

For RWK Goodman, the decision stands as one of the largest financial recoveries in a civil fraud case in recent years, further cementing the firm’s reputation in high-value dispute resolution. For the defendants, it represents the culmination of years of failed defiance — leaving them burdened with a colossal debt and stripped of their defence.

The case has already drawn attention across Europe, given its ties to Spanish government contracts and its scale. Legal commentators note it is a stark reminder that fraud in the age of COVID-19 procurement still casts long shadows and that the courts remain prepared to act decisively when deception is exposed.