Bradford housebuilder Ishfaq Hussain was sentenced for fraudulently transferring company land to a partner‑run firm. Hussain, 54, signed over two pieces of development land worth £250,000 from his insolvent company, Reeson Homes Ltd, to Paddington Homes Ltd on the same day the new company was incorporated. No money changed hands, yet the transfer documents recorded a sale price of £250,250. He pleaded guilty to fraud under the Insolvency Act 1986 and was given a six‑month prison term suspended for 12 months. He was also disqualified from acting as a company director for four years and ordered to complete 180 hours of unpaid work. The Insolvency Service’s Chief Investigator said the move was a deliberate attempt to prevent creditors from recovering debts.
© Crown copyright, 2024, GOV.UK.
Summary adapted from content licensed under the Open Government Licence v3.0.
For details, see https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/.
Original source: https://www.gov.uk/
Made by AI. If you spot anything of concern write us at contact@cybach.com. We’ll promptly correct irregularities.