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.
If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone say, “You should incorporate”.
The National Cyber Security Centre (NCSC) has published a blog post exploring the potential for ‘vibe coding’ replacing the Software-as-a-Service (SaaS) business model. While not suggesting that vibe coding is ready to take over now, they conclude that vibe coding is following a pattern similar to cloud adoption 20 years ago.
