A businessman has been jailed for more than four years after hiding assets, illegally acting as a company director, and obtaining over £100,000 in credit while still subject to bankruptcy restrictions.
Helim Miah, 46, of Lansdowne Road, was made bankrupt in 2006 owing £12.3 million. He was disqualified from acting as a company director for 13 years. Because of failing to cooperate with the Insolvency Service, he could not be discharged from his bankruptcy in 2007 or be released from his debts. He therefore continued to be restricted from forming new companies and obtaining credit.
Despite this, Miah: - Used £130,000 from a company account to help buy a house in Cardiff. - Set up and ran companies while banned from doing so. - Took out loans, credit cards and overdrafts totalling well over £100,000, including finance for a car.
He pleaded guilty to multiple offences and was sentenced at Merthyr Tydfil Crown Court on 24 July to four years and eight months in prison, along with a new 10-year director disqualification.
The Insolvency Service said the case showed the serious consequences of ignoring bankruptcy law.
Official figures show that UK government borrowing reached £20.2 billion in September - the highest for the month in five years. The figures, released by the Office for National Statistics (ONS), underline the financial pressures facing the Chancellor as preparations continue for next month’s Budget.
Small businesses across the UK are being urged to take simple, practical steps to protect themselves from growing online threats - and a new free toolkit from the National Cyber Security Centre (NCSC) aims to make that much easier.