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Bankrupt jailed for evading creditors 14 October 2013

A Bristol man has been imprisoned for six months for transferring money out of the country instead of paying creditors during his bankruptcy.

Zobair Rehman was sentenced on 20 September at Bristol Crown Court, suspended for two years, following an initial investigation by the Insolvency Service and a full criminal investigation and prosecution by the Department for Business, Innovation and Skills (BIS).

Rehman was also ordered to complete 100 hours of unpaid work and has been imposed with an electronically tagged curfew.

Laim Mannall, deputy chief investigating officer at BIS, said: “Rehman had substantial cash with which he could have paid down his debts, instead, he chose to transfer the cash overseas in a deliberate act to avoid paying creditors.

“Such deliberate acts are serious criminal misconduct and Rehman now has a criminal record for dishonesty and the threat of a prison sentence.”

The investigation found Rehman transferred funds to Pakistan on two occasions despite owing “substantial sums” to creditors – £120,027 in June 2008 and £37,027 in November 2008.

Rehman was made bankrupt on 23 February 2010 on a creditor’s petition.

He claimed the money was transferred in order to invest in a “pyramid” scheme, but he failed to provide any details of the scheme.

The investigation found that the sole aim of the transfer was to avoid his liabilities and that the offence was clearly motivated by greed.



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