In June 2018, Sharaz Iqbal (34) was unemployed when he gave his bank details to a third-party that he knew, who then paid into his account a cheque worth almost £55,000.
Despite being insolvent at the time, the Bradford resident went onto spend more than £48,000 of the money on luxury items.
In a single-day, Sharaz Iqbal shopped at exclusive stores, bought a high-end watch worth £10,000, a holiday for himself and his wife to Turkey, as well as £18,000-worth of Euros.
The cheque was not honoured, however, and Sharaz Iqbal's account became overdrawn, leaving a debt of more than £48,000 to his bank as he had already bought the items.
A Bankruptcy Order was made against Sharaz Iqbal in November 2018 due to the outstanding money owed to the bank and, on 15 April 2019, he signed a Bankruptcy Restrictions Undertaking further extending his bankruptcy restrictions for eight years to 2027.
Restrictions imposed on him include borrowing more than £500 without telling a lender he is bankrupt and acting as a director of a company without the court's permission.
Gerard O'Hare, Official Receiver for the Insolvency Service, said:
Sharaz Iqbal, while insolvent, knowingly participated in the fraudulent use of his bank account. The eight year undertaking should act as a deterrent to him and others from acting in the same way.
All public enquiries concerning the affairs of the bankrupt should be made to: The Official Receiver, Level One Apex Court City Link Nottingham NG2 4LA
