Glasgow & West Scotland

Restrictions on lavish spending bankrupt Scot Crone

A man who ran up personal debts of £190,000 while bankrupt has had a nine-year restriction order imposed on him.

Scot Crone, 41, from Glasgow, had debts of £100,000 in Scotland when he used a credit card to fund an extravagant lifestyle in the United States.

He used it to buy holidays, sports cars and jewellery.

The Bankruptcy Restriction Order means he will not be allowed to get credit, use different names or operate a business without court permission.

The order was granted at Glasgow Sheriff Court after Scotland's insolvency service, Accountant in Bankruptcy (AIB), raised an action against Crone.

False address

The 41-year-old is now believed to be living in Florida.

AIB said Crone had provided a false address in Scotland in order to have his bankruptcy application granted.

He was in fact, AIB said, living in the US when the application was made.

He also failed to respond to correspondence sent to him by his trustee and failed to provide an accurate list of his assets and liabilities.

AIB said Crone misappropriated funds in excess of £300,000 from a company called Micrositez Ltd which he operated in Glasgow before it went into administration.

'Serious consequences'

It said those funds were paid from the company account into his own personal account.

He then went to the US and set up a similar company called Micrositez LLC.

Whilst he had outstanding debts in the UK of more than £100,000, Crone used an American Express credit card to fund a lavish lifestyle, incurring further debt of £190,000.

Rosemary Winter-Scott, chief executive of AIB said: "This case is an example of the serious consequences that can happen when debtors do not adhere to the terms of their bankruptcy.

"Bankruptcy restrictions are imposed to alert potential future creditors and employers of the risk associated with an individual that has demonstrated inappropriate behaviour before, or during, their bankruptcy."

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