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Bankrupt Jailed for Asset Disposal

Bankrupt Jailed for Asset Disposal

Mohammed Modhu, a bankrupt, has been sentenced to six months in prison by Luton Crown Court for removing £23,000 from his estate while undergoing bankruptcy proceedings, and failing to account for the same.

The case follows an investigation by The Insolvency Service and a criminal investigation and prosecution by the Department for Business Innovation and Skills (BIS).

Mr Modhu pleaded guilty to removing £23,000 from his account, which was part of the proceeds from the sale of a property to his brother, and for failing to account for the same. He was sentenced to six months’ imprisonment for the removal and three months’ imprisonment for the failure to account, to run concurrently. He was also ordered to pay £1,000 towards the costs of the prosecution.

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About The Author

Mark Hodgson is the Managing Director of Tremark Associates, one of the UK’s leading providers of investigative services. Mark has 30 years experience in private Investigations and the commercial debt recovery industries. He is Vice President of the Association of British Investigators, a member of the World Association of Detectives, The Institute of Credit Management and an associate member of R3 -The Association of Business Recovery Profession.