Suspended sentence for bankrupt!

The Insolvency Service have reported that a bankrupt from Northumberland has been sentenced to six months imprisonment suspended for 12 months.

Lee Davies was found guilty of trying to hide more than £33,000 which he had inherited from his father a month before his bankruptcy order was made. Mr Davies transferred half of the inheritance to his wife and paid his other creditors off, with the exception of HMRC.

In addition, Mr Davies obtained a £1,900 loan from a pawnbroker, without telling the pawnbroker he was an undischarged bankrupt.

Mr Davies was given a 5 year bankuptcy Restrictions Order.

Be sure your sins will find you out!!

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